Nifty: Resistance 2856/2880/2921
Support 2821/2799/2770/2725
Nifty on friday bounced from lows & closed on higher band. From past one week we have been in a range of 2750-2850. We are keeping a view of break of either side this in coming days & hence a big move may be awaiting our way. US markets closed 2.7% + on Friday. Asian Market trading firm with 1% gain. Our market may open gap up with 15-30 pts on Nifty. We still maintain cautious outlook on market till either side break is seen.
Technical Watch: LT (LTP:638.9)
Premium Indian Engeering , Infrastructure company, has been lately in little sell off mode.
Reaching its oversold zone & Technically a bounce back can be seen from lows. Sustaining above 650 will give some +ve look on this counter. Sustaining above it, make 683 as good resistance on closing basis. So we may see some bounce from lows & above 650 will be good for this counter.
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