Jubilant Foodworks can go upto Rs 423, IRB Infrastructure looks interesting

IRB Infra was moving in a range of about Rs 240-300. In case Rs 300 gets taken out because of results then we have a further Rs 60 in the table. Jubilant Foodworks moved up quite sharply some months back and then has been consolidating. If it can stay above this level of Rs 350 then a retest of Rs 423 is possible.

HCC consolidated at lower levels around Rs 92 or Rs 100, slowly moving up. Now if it can maintain above this Rs 140-141 then we could see it trying to reach levels of Rs 160-165 but if somebody got in around Rs 100 right now is a good place to take some profits

IRB Infrastructure Developers looks interesting. It have been consolidating for about nearly 8 to 10 months and is slightly far off from a breakout but if it close at the levels it is today I think that would mean an upward bar reversal on the weekly charts. That will be very interesting to look at.

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Today's Market Review and Trading tips for 2nd August 2010

Nifty Tips: 

Nifty witnessed the correction today from the levels of 5400 to 5420 & in the end closed Near to the level of 5370. The next support for nifty future seems to be at the level of 5350. closing below this support may slip it till the lower levels of 5290 to 5300 in near run. For the trading we recommend that traders should watch out the level of 5350, if it hold this level then one may go for long in nifty future for the targets of 5410, 5440 in near run. If it broken the level of 5350 & sustain below it for a while then one may go for sell in it with the sl around 5375 for the targets of 5305,5260 in near run.

BSE- Sensex Review

  Sensex witnessed the correction today and closed in the end in red zone. now the next short term support seems to be at the levels of 17350 to 17400. Closing below this support zone may slip it till the lower levels of 17100 to 17150 in near run. technically we might expect the bounce in Sensex from the support levels & may continue it's up trend.

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Share Market Review- Nifty and Sensex Prediction for 30 July 2010

Nifty witnessed the upside consolidation phase today. Overall it was high volatile sessions due to f&o expiry. Technically nifty still holding it's up trend & maintaining the upward rising channel on long time frame charts. In the downside it is getting the strong short term support close to the level of 5350. We recommend that traders may go for buy on dips in Nifty future for the targets of 5450, 5500 in near run.

 Sensex was highly volatile for the whole day & in the end closed in the marginal green. the immediate support for it seems to be at the level of 17850. Closing below this support may drag it till the lower levels of 17350 to 17400 in near run. Technically the overall trend of the Sensex is looking bullish & after some positive consolidation in the market we might expect fresh up rally.

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ONGC 1st Qarter Results: Net profit down 24% at Rs 3661 crore

Oil and Natural Gas Corporation (ONGC) has announced its first quarter results. The company's Q1 net sales were down 8% at Rs 13666 crore versus Rs 14879 crore, Year-on-Year, YoY. 

Its net profit was down 24% at Rs 3661 crore versus Rs 4848 crore, YoY.

Net realisation was at USD 48.04/bbl versus $58.25/bbl (YoY)
Subsidy payout was at Rs 5,515 crore versus Rs 429 crore (YoY)
Total costs was at Rs 8,744 crore versus Rs 8,557 crore (YoY)
Other Income was at Rs 407 crore versus Rs 788 crore (YoY)
Crude Oil output at 6.06 mt versus 6.12 mt (YoY)
Gas Output at 5.76 BCM versus 5.75 BCM (YoY)

According to CNBC-TV18's estimates, the company's Q1 sales were seen down 3.9% at Rs 14300 crore versus Rs 14879.3 crore,Year-on-Year, YoY.

Its PAT was seen down 19.1% at Rs 3920 crore versus Rs 4847.9 crore.

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Today's Market Review and Recommendations for tomorrow

Nifty witnessed the profit booking on higher levels & in the end closed in the red zone. In the lower side it is having the crucial short term support around the level of 5350. closing below this support may slip it till the lower levels of 5290 to 5300 in near run. Technically nifty future still looking bullish and after some consolidation phase in the market we might expect the one more up rally in it. For intra day trading we recommend that traders may go for buy on dips in it until it close below 5350 for the targets of 5450,5500 in near term.

Sensex witnessed the correction from the higher levels & in the end of the day closed below the level of 18000. the next support for Sensex seems to be at the level close to 17850. Closing below this support may slip it till the lower levels of 17350 to 17400 in near run.

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RIL Likely to remain Under pressure until 1090 Level

Reliance Industries is clearly under pressure and its likely to remain, unless and until it breaks out above the Rs 1090 levels. On the down side watch the Rs 1018 levels. If it was to sink below the Rs 1018 levels then more importantly stay below the Rs 1018 levels and that’s clearly a sign of concern for the short term players. Then in that case it could come back into the triple digit mark, probably Rs 988 levels. And recovery from there on would take a little bit more time than is anticipated right now
As far as ABB is concerned I think one is witnessing a clear inflection point there. We would want it to stay above Rs 814- 816 levels consistently on a closing basis for the next 2 or 3 trading sessions for the bulls to actually tighten their grip on to this counter.

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Nifty Made Marginal Gains- Still towards 5500. Sensex Next Support Zone may be 17850

  Nifty witnessed the high volatile sessions today & in the end closed with the marginal gain. The main thing which is technically vital is that still it is holding the higher levels & rising towards the higher level of 5500. In the downside two short term support seems to be at the levels of 5400, 5350. closing below the support of 5350 may slip it till the lower levels of 5290 to 5300 in near run.for intra day traidng we already recommend in our previous reports that one amy go for buy on dips in nifty future until it close below 5350 for the targets of 5500-5550 in near run.

  Sensex may get the next short term support close to the level 17850. Closing below this support zone may slip it till the lower levels of 17350 to 17400 in near run. Overall sensex is looking to continue its uptrend & might make more upmoves after some time consolidation.

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Stock Alert: Hold GlaxoSmithKline Pharma with target Rs 2020

GlaxoSmithKline Pharmaceuticals’ Q2CY10 numbers are lower than our expectations. Revenue growth was largely impacted because of supply constraints in the vaccine segment. Despite strong operating performance, lower other income has impacted the profitability of the company. We are of the view that supply constraint is a temporary phenomenon and business should recover going forward. We retain our earning estimates of Rs 70.3 and Rs 80.8 for CY10E and CY11E respectively. However, owing to rich valuations, we downgrade our rating one notch from Accumulate to Hold with a Price target of Rs 2020 (25x CY11E; 5year average one year forward multiple). At CMP of Rs 2054, the stock is trading at 29.2x CY10E and 25.4xCY11E,

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The Quarter Resuls effect: L&T Faced Decline, RIL net profit up 33.42%

Larsen and Toubro (L&T) dropped 2.94%, or Rs 56.45 to end at Rs 1,863.23 on Tuesday. It touched an intraday high of Rs 1,925 and an intraday low of Rs 1,845.
Today the company has announced its first quarter results of FY11, which was below the estimates. The company's Q1 net profit was up 15.22% at Rs 666 crore versus Rs 578 crore (YoY). Its net sales were up 6.41% at Rs 7,835 crore versus Rs 7,362.7 crore. Operating margin improved to 12.2% versus 11.3%.The company has kept order growth guidance unchanged at 25%.
.L&T profit after tax (PAT) is expected to go up 19.2% to Rs 690 crore as against Rs 578 crore, on year-on-year basis (YoY). Sales are seen going up 20.6% to Rs 8885.57 crore from Rs 7362.7 crore (YoY).

On the other hand Mukesh Ambani group's flagship company Reliance Industries (RIL) has announced its results for the quarter ended June 2010. It has reported net profit at Rs 4851 crore as against Rs 3636 crore, a growth of 33.42% on year-on-year basis.

Net sales jumped 81.65% to Rs 58,228 crore from Rs 32,055 crore. Numbers were better-than-expectations which were to be 59,300 crore and net profit at Rs 4820 crore.
Refining revenues increased 106.81% to Rs 50,531 crore from Rs 24,434 crore and petchem revenue rose 18.8% to Rs 13,903 crore from Rs 11,707 crore (YoY).

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Today's Market Review- Take EveryDip as Buying opportunity In Nifty, Sensex Is technically Strong

Nifty witnessed the range bound movement with negative biasness in the whole day of trading. In the downside it is having the crucial support near to the level of 5350. Closing below this support level may slip it till the lower levels of 5290 to 5300 in near run. Technically nifty still holding the higher levels & getting good buying support on lower side. I recommend that traders may consider every dip as buying opportunity & should focus on buy on dips until it close below 5350 for the targets of 5500, 5550 in near run.

Sensex is sustaining at higher levels of 18000 & the next resistance range for it seems to be at the levels of 18300 to 18350. Closing above this resistance range may lead it towards the levels of 18800 to 18900 in near run. Technical indicators are also showing some more strength in the market.

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Buy Exide Ind, Maruti Suzuki May See Further Decline

Exide has been consolidating after hitting all time highs. That’s a very good signal getting into some kind of sideways consolidation. This kind of consolidation which happens immediately after the stock breaks out into new highs would yield to further upsides. Go for long as the stock is above Rs 133-134 mark on closing basis . On the upside, a good breakout above Rs 140; above that you could see another 10-15% coming into this stock which will give it a target of around Rs 155-160.

We were expecting some kind of negative action for Maruti Suzuki. It’s been down severely around 10% or so. In the monthly charts Rs 1180-1190 has been a very strong support but looking at the price action happening today it is not sure that we will give an immediate reversal. We might see some more declines before we see some kind of technical bounce back come into the picture.

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Stress Test Effect – What will Be Market Next Week

Stress Test Effect – What will Be Market Next Week


Markets are likely to remain range bound in the near term but with good buying coming in from FIIs there is a strong possibility of the index crossing 5,500 levels soon. Globally also the results of the stress tests in Europe have been by and large moderately positive with only seven of 91 European banks flunking the `stress tests` aimed at clearing up market fears about the strength of the continent`s banking system amid the debt crisis,`` notes the brokerage firm Anagram.

Seven European banks would not be strong enough to withstand another recession and would face a capital shortfall of 3.5 billion euros (USD 4.5 billion).

From a pure valuation basis, corporate results for Q1 FY2010-11 have been much ahead of broad market expectations with sectors like banking, auto components, capital goods, and power equipments showing strong profit growth.

In important corporate news next week, the Q1 results of Reliance will be awaited strongly on this Tuesday while the forthcoming credit policy on the Jul. 27, 2010 will be eagerly awaited by the market on whether interest rates will be tweaked up further.

We continue to remain positive on the markets and suggest maintaining long positions on the NIFTY with the support coming at 5,353, which is the immediate previous bottom. On the upside, the NIFTY has a resistance at around 5,515 in the near term.

The markets witnessed a small up move through the week with the NIFTY closing at 5,449 levels on the back of moderately positive global news flows from the US and Europe.


The results of the stress test of European banks due late on Friday, Jul. 23, 2010, will set the tone for global equity markets early next week. Closer home, investors will watch for any surprises in central bank`s monetary policy review on Tuesday, Jul. 27, 2010. The market has already discounted a 25 basis points rate hike in key short term rates by the Reserve Bank of India. Volatility may rise as traders roll over positions in the derivatives segment from the near-month July 2010 contracts to August 2010 contracts ahead of the expiry of the near-month July 2010 derivatives contracts on Thursday, Jul. 29, 2010. Back home, among the key corporate results, Maruti Suzuki India will announce its Q1 result on Saturday, 24 July 2010. Sterlite Industries and NTPC will announce Q1 results on Monday, Jul. 26, 2010. Larsen & Toubro, Reliance Industries and Hindustan Unilever`s Q1 results are due on Tuesday 27 July 210. DLF, Mahindra & Mahindra and Jindal Steel and Power`s Q1 results are due on Jul. 28, 2010. Hero Honda Motors and ONGC will be announcing Q1 result on Thursday, Jul. 28, 2010. Therefore traders are advised to have a close look on global outlook and may book profits near 5,500-5,530 and wait for a decent correction to re-enter. On the flip side we still maintain our previous approach of 5,300 as intra day support for any down swing. Any drift below this level may dampens the current Euphoria however 5,225 could be the next comfort level where we might see some bounce back,`` said the broking house Mansukh.

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Nifty Prediction - Market Trend for Monday

  Nifty today hold the higher levels & in the end closed on flat notes. Still technically we are looking well set to touch the mark of 5500, 5550 in near run. In the downside Nifty has the vital support zone close to the levels of 5290 to 5300, until it made decisive closing below this support zone one should focus on long side in nifty future. Technical indicator like RSI is also showing some more strength in it. So we recommend that traders may go for buy on dips in nifty future for the targets of 5500, 5550.

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BSE Sensex Trend For Monday 26 July

Sensex made the closing above the higher levels of 18050 to 18100, now the next resistance for it seems to be at the range of 18300 to 18350. In the downside the immediate support for it seems to be at the levels of 17850. Closing below this support zone may slip it till the lower levels of 17350 to 17400 in near run.

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Nifty Recommendation for 23rd July - Market Outlook

Nifty (5442) as We previously said that technically it is looking strong & one may expects the uptrend to continue in the market. The market is up as long as 5350 holds but limited to 5493-5511. Technically the analysis is still same and buying in Nifty Future is recommended at every dip until it close below 5400 with logical targets 5493-5511.

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Nifty Future Tips - Nifty Trading Recommendations for 22 July

 Nifty is trading in the horizontal trading range from last few trading sessions. In the downside it is getting good support close to the level of 5350. Closing below this support may further create some weakness in it. Still technically it is looking strong & one may expects the uptrend to continue in the market. For trading strategy we already recommend that one should buy nifty future at every dips until it close below 5300 for the targets of 5450, 5500.

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Where is sensex heading tomorrow?

 Sensex is getting the good intra day support close to the level of 17850. Closing below this support may drag it till the lower levels of 17300 to 17400. In the upside it is facing the stiff resistance close to the higher levels of 18000 to 18050. From few trading sessions it is making the horizontal trading ranges in charts.

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Nifty ends higher led by European cues; metals rally : Market News By Moneycontrol

The benchmark Nifty recouped previous day's losses and closed just one point short of the 5,400 level led by technology, metal, oil & gas, auto, cement and realty companies' shares. ICICI Bank, L&T and ITC were the other gainers.
However, the sell-off in telecom companies' shares along with HDFC, HDFC Bank, Axis Bank, SBI, BHEL, HUL, NTPC, Sun Pharma, ABB and Cipla capped the gains to some extent.
It was the seventh consecutive session that the markets witnessed consolidation. "The Nifty is likely to trade rangebound between 5,410 on the upside and 5,330-5,370 on the downside," said Deven Choksey, MD, KR Choksey Securities.
"This band is expected to be broken only when some of the big names or index heavyweights start participating in this particular game. These include the likes of Reliance (its results on July 27) and some capital goods and realty players," he added.
Global cues kept the indices in positive terrain on Wednesday. European markets like France's CAC, Britain's FTSE and Germany's DAX were trading 1.77%, 1.57% and 1.37% higher, at the time of closing of Indian equities.
Buying in technology post Apple's upbeat revenue forecast, financials ahead of stress tests on 91 European banks and mining companies' shares after 16% quarterly rise in iron ore output of BHP Billiton helped the European markets today. The US index futures were marginally in the green.
The 30-share BSE Sensex closed at 17,977.23, up 99.09 points or 0.55% and the 50-share NSE Nifty rose 31.35 points or 0.58% to settle at 5,399.35. The Nifty August futures ended at 10 points premium, as per provisional data.

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Nifty Position and Market Outlook

Nifty witnessed the correction from the higher levels & in the end closed near to the support zone of 5350 to 5355. In the downside the next crucial support zone seems to be around the levels of 5290 to 5300. Decisive closing below this support zone may drag it till the lower levels of 5200 to 5205 in near term. We recommend that until it close below 5300 one may go for buy on dips in it for the upside targets of 5450, 5500 in near term.

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BSE Sensex Review and Trend For Tomorrow

  Sensex witnessed the correction from the higher levels, in near run Sensex may drag it till the lower levels of 17300 to 17400. In the upside the next key resistance zone seems to be around the higher levels of 18050 to 18150. Decisive closing above this resistance zone may further confirm up trend in the market.

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Nifty Tips- NSE Trading tips for 20 July 2010

  Nifty witnessed the range bound movement with negative biased & in the end closed in the red. In the downside it is getting good support close to the levels of 5350 to 5360. Closing below this support zone may slide it till the lower levels of 5300 to 5305 in short term. In the upside closing above 5450 to 5455 may lead it towards the higher level of 5500 in near run. For trading we recommend buy on dips until it close below 5350 for the targets of 5450, 5500.

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BSE-Sensex Trend For Tomorrow

  Sensex made the consolidation close to the level of 18000, in the downside the next support seems to be around the levels of 17300 to 17400. Closing below this support zone may drag it till the lower levels of 16900 to 17000 in near run. One might expect the more consolidation close to sensex until it made decisive closing above 18150

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Nifty Trading recommendations for Monday 19th July 2010

Nifty is getting a strong support close to the levels of 5355 to 5370. Today overall, it was in the range bound movement in the market with high volatility. Nifty is still holding its up trend & may continue it. In the upside the next resistance seems to be around the levels of 5445 to 5455. Closing above this resistance may take up it till the higher level of 5500 in near term. We had already mentioned in our previous report that traders may go for long in nifty future with the Stop Loss around 5345 for the targets of 5450,5500. So for Monday session traders should focus on buy on dips in nifty future.

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Market Prediction For Tomorrow- 16 July 2010

NSE-Nifty witnessed the overall volatile session after the flat opening in the morning. Overall it is holding the higher levels & maintaining the short term support of 5350 to 5355. Closing below this support zone may drag it till the lower levels of 5290 to 5300 in near term. We still recommended that traders may go for long in nifty future with the sl around 5345 for the targets of 5450, 5500 in near term.
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BSE -Sensex is consolidating close to the higher levels of 17900 to 18000. in the downside the next crucial short term support seems to be around the levels of 17300 to 17400. closing above this support zone may drag it till the lower levels of 16900 to 17000 in near term. one may expect the upside consolidation to continue in the market for a while

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Bank Nifty Tips For 15th July

 Bank nifty future is in the key juncture the next crucial resistance zone seems to be around the higher levels of 10025 to 10050. Closing above this resistance zone may take up it till the higher levels of 10300 to 10350 in quick time. So one may initiate long position in it above 10050 with the sl around 9990.

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Nifty and Sensex Levels for tomorrow 15th July 2010

NSE Tips-
Nifty witnessed the correction from the higher levels & in the end closed in the red. The next downside support for it seems to be around the levels of 5340 to 5350. Closing below this support zone may drag it till the lower levels of 5290 to 5300 in short run. I recommend that traders may go for sell in nifty future below 5350 for the tg of 5300 for intra day trading.

BSE Tips-

 Sensex today witnessed the correction from higher levels, as in the last prediction we mentioned in our previous report that it is making double top pattern on long time frame chart, & might witness some correction till the lower levels of 17300 to 17400. Closing below this support zone may drag it till the lower levels of 16900 to 17000

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Share Market For Tomorrow 14th July 2010

NSE Market-
Nifty made the upside breakout today and made the closing above 5400. The up trend in nifty future may continue and the next key resistance seems to be around the higher level of 5500. In the upcoming trading sessions we might see some more upside in it & one should focus on buy on every decline in it. The short term support for nifty future seems to be around the levels of 5290 to 5300.

BSE Market Trend For tomorrow -

Sensex is forming the double top pattern on long time frame charts, so if it would not be able to crossed the resistance zone of 18050 to 18150 in few trading sessions, then we might expect some correction in it. In the downside the short term key support for it seems to be around the levels of 17300 to 17400.

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Nifty Levels For 13th June 2010

Nifty future today lead towards the higher level of 5400, as we already mentioned in our earlier report that decisive closing above 5345 to 5350 may continue the upward trend for a while. Still nifty future did not break the 5400 level, but overall looking strong on charts. In the downside the short term floor for nifty future is seems to be around the levels of 5290 to 5300. Traders should focus on buy on dips in nifty future until it close below 5300.

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Technical View on Nifty for July, 10th, 2010

Nifty today broken the short term resistance zone of 5350 to 5360 but could not be able to continue the upper rally and got consolidated around the higher levels. It was overall the positive trading session for market. Now in upcoming trading sessions the key resistance zone seems to be around 5395 to 5400. Closing above this resistance zone may further confirm the price hike in market. In the downside closing below 5300 to 5305 may drag it till the lower levels of 5230 to 5235 in near term. We recommend that traders should watch out the 5400 level if it does not break then one may go for sell on rise for the targets of 5230,5200.

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Techncial View on Nifty for 09, July, 2010

Nifty holding the 5300 level & today it was overall the high side consolidation in nifty after the positive gap up opening. In the upside the short term resistance seems to be around the levels of 5345 to 5350. Closing above this resistance zone may lead towards the levels of 5380 to 5400 in near term. In the upcoming trading session we may expect the high volatility in market. For the trading one may go for sell on rise in it until it closes above 5350 for the target of 5200.

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NSE Nifty Technical View for July 08, 2010

Nifty witnessed the yet another correction from the higher levels, nifty facing strong resistance at 5310 and if trades below 5225 we may see some more correction in nifty in coming days, and on the upside any sustained move above 5320 may take it to 5350- 5380 levels.

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Nifty For Tomorrow

Nifty witnessed the yet another strong session above 5260 saw rally upto 5310 levels. Now next crucial hurdle to watch out will be 5325, any sustained move above this level can take nifty future to 5350 - 5380 in short term. 5260 and 5225 will act as strong supports in short term.

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Nifty Levels On Monday

Nifty as expected touched the low of 5237 below 5280 levels and now next support seen at 5200 levels. All major technical indicators are giving weak signals so we might see 5200 levels in short term, and on the upside immediate resistance is at 5300 and 5350 levels, there is higher probability of selling on higher levels in next few trading sessions.

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Nifty Levels For Tomorrow

  Nifty witnessed the yet another highly volatile session & in the end close on Red. Now in the downside the short term support zone seems to be around 5200 to 5220. Closing below this may drag it till the lower levels of 5100 to 5110 in near term. For short term trading one may go for sell in Nifty future on every high until it close above 5360.

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