CLOSING
SESSION BETTER
Nifty
8030 -38
Nifty
fell sharply in the opening hour trading below 8000 mark too and
slowly recovered thereafter and trimmed the losses and fell for 8 out
of last 9 trading sessions. Nifty closed below 100DMA and needs
to go above that level by weekend to remain stable. Stop loss
for Nifty short positions may be trailed to 8200(on close basis).
Nifty spot is expected to encounter resistance at 8070,, 8110 and
find support at 7990, 7950 for Thursday. While Global
cues and Funds flow are expected to broadly guide
the market movement, based on the present market position, market
could remain subdued in the forenoon and recover towards close. US
Fed (FOMC) meet outcome could influence the opening.
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