Nifty: Resistance 2995/3030/3055
Support 2975/2961/2925
As expected Nifty traded in a highly volatile manner & gave a wild move in a broad range of our levels 2925-2995. We have been maintaining our mild bullish view from past few days & we have been right in this. Nifty faces stiff resistance @ 3055 zone, breaching of this may lead towards 3150, this has been the level which has offered resistance to Nifty to the fullest in past 4-5 months. Breaching this levels will mean that this temporary phase of downtrend may breakout. We may see a small dip too, but that should be a buying opportunity, till we are above 2770-2820 zone, as Nifty seems to forming a short term base.
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