Last Week, Decent Pullback was witnessed from 4900 to 5150 levels & markets closed at a weekly high followed by Short-Covering & selective buying support at Lower Levels post encouraging Infosys Q2 results. Stock Specific action may be witnessed as major large-cap earnings (Hdfc, Tcs, Hero Motocorp, Hcl Tech, Bajaj-Auto, Hdfc Bank, LT & Axis Bank) trickle in throughout the week. Going Forward, If Nifty Fut holds 5053 & crosses resistance zone of 5212-5232 with Volumes, Further pullback upto 5324/5484 can be witnessed. But If fails to cross abv 5232, will be in a trading range 5053-5232. Strong Support lies @ 5053-5060. If it breaks & closes below 5053, may touch 4937/4845. |
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