Nifty (6971) we said ‘technically Nifty still looks weak and the next logical target would be 6942 if it continues down…sharp reaction is not ruled out’ the market saw the slide towards 6942 and has closed in the red…technically I would say that now 7050 is a stiff resistance to deal and we must assume that the market is down as long 7050 is not taken out…
The support for Nifty is it 6942-6907 and the resistance to the up move is at 7050-7100-7228
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