Nifty: Resistance 2751/2770/2801/2829
Support 2707/2680
Nifty exactly bounced from lows & closed almost flat, outperforming its peer Asian Markets. With series of announcements from Government to relief corporate sector, we may see some relief rally. Yesterday, our view was 100% correct once again, we wrote that 2660 should be held for a short term bounce back. Nifty made a low of 2677.55 & bounced back smartly upto 2745+.
With just 1 day to settlement & some positive factors, we may see some short-covering & we may see some sector specific movements.
We may have a Gap Up Opening Of 25-35 Pts on Nifty. Over all view is weak, but we may witness some good covering above 2770.
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