Nifty nears resistance zone
Improvement in the macro situation thanks to a drop in crude oil prices, stability in the rupee and retreat in bond yields have buoyed stock prices. The benchmark Nifty has rallied nearly six per cent this year. Even as fundamental factors remain positive, the markets are approaching a key resistance zone from a technical point of view. Experts say it would be challenging for the Nifty to breach 10,755 levels, where the 200-day moving average for the index is currently. The 50-share index on Friday ended at 10,682. Samie Modak
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