Nifty (7623) we said ‘technically now the next logical target still is 7877’ the market climbed to a level of 7800 and triggered a sell and the market could not sustain on the rail budget day ahead of the big event day in the process generating a very engulfing pattern capable of stalling the up move…technically it is possible that we may see some rallies too but to me it would be more of selling rallies…
The support for Nifty is it 7500-7440 and the resistance to the up move at 7877-8000
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