NIFTY (7626) we said ‘technically the market still looks weak with stiff resistance at 7600 and possibly some support emerging near the psychological 7500 mark’ the market opened with a bull gap squeezing the shorts and closing in the green and in the process creating an island reversal setup as long as 7598 holds…I would say 7700 could be the target if it proceeds up and watch the crucial support at 7598 and trade long above it…
The support for Nifty is it 7598-7500 and the resistance to the up move at 7700-7750
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