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Nifty outlook and technical calls by Vinay Rajani, Senior Technical Analyst at HDFC Securities.
Close below 10333 would result into bearish trend reversal in Nifty
Nifty managed to recover sharply from the lower levels during Tuesday’s low to settle at 10549. There has been strong resistance in the range of 10558-10600 levels, which happens to be unfilled down gap formed on 10th Dec 2018. Far Resistance is seen at 10750, the 200 DMA. Any close below 10333 could push Nifty below 10000.
Buy Bata India at Rs 1071.55
Target: Rs 1125
Stop Loss: Rs 1040
After small correction, stock resumed its uptrend by rising more than
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