Today again Nifty tried to close above 4800, but as a major resistance level, Nifty tanked till 4720.9 in the closing session and closed at 4733. As mentioned in the blog which was posted in the morning, that since few days Nifty is trading in the range of 4700-4950 levels. Either side breakout is possible. One of the major gainers was Reliance ind. I had given the call of RIL in the morning with the tg of 2470 and it touched 2523. RPL was also told with the tgt of 182 and that also made high of 179.70.Nifty has taken a good support at the “ Rest” trendline. In the closing session markets tanked down to make the new intraday low on profit booking and on worry of Inflation data that will be announced tomorrow. Inflation data will be once again higher then the expectation. The support and the resistance level still remains the same.
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