Marekts after leaving in the red zone for most of the trading time yesterday, bounced back in the closing session to gain some points in the positive zone. But average close of the last 1/2 hour, Sensex closed below by 101 points and Nifty closed with a loss of 25 points. Nifty closed at 4368.25 after making a low of 4316.55. As i have mentioned yesterday the Nifty has a good support at 4360 levels, the same was broken but the close was above the same. Nifty made a new low 4316.55. Yesterday there was high level of confusion. Nifty closed below the 20DMA. Nifty may come down till 4150 levels in the coming few tradign session, if the close is not above the 4440 levels. Nifty will find support at 4290 levels at 50 DMA. Nifty need to close above 4440 to reach to the level of 4625. Till the time i would advice to keep ur positions very light. NO TEJI. We might see some pull back, but will that stabalize.........
There are certian triggers marked in the chart attached which shows some weekness in the market.
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