Nifty (7736) we said ‘technically Nifty still looks weak and a slide to 7653-7615 is still a possibility though a technical bounce is not ruled out but I would suspect that bounce if it happens’ the market saw the bounce as expected and now technically Nifty looks to be in a pause mode and the downside targets are still in on and now if the slide continues then there is a good chance that it would be the final push down before it starts to bounce back… however I would be bullish if Nifty crosses the 7800 mark…
The support for the Nifty is at 7653-7615 and the resistance to the up move is at 7800-7900
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