 "Markets, Buy, Sell, Stocks, Shares")
Nifty View:
The Nifty rose due to short covering on Thursday, as street expected some relief on FPI surcharge and Long-Term Capital Gains (LTCG) tax. Nifty closed at 11,109.70 on Friday, gaining 77.20 points. The sectors that majorly contributed to the gain include private banks, automobiles and financial services. Sharp bounce back from US benchmark indices and weaker crude prices added more confidence among the traders. Market needs to hold the 11,000 level for further upward movement. The 200-day EMA which stands at 11,270 will act as a major hurdle and we may expect some profit booking at this level.
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