Profit booking in Nifty may emerge at resistance levels: Finquest
Finquest Securities is of the view that profit booking may emerge in Nifty at resistance levels.
By ET Bureau |
MUMBAI: Finquest Securities is of the view that profit booking may emerge in Nifty at resistance levels.
Nifty saw a spectacular rally of almost 150 points after breaching the falling channel at 5000. With this Nifty has formed a strong Bullish Belt Hold pattern for the day.
Nifty is once again close to its all time highs for the year at 5183. Profit booking could be witnessed today as Nifty attempts to breach this strong resistance.
However since the up move seems extremely strong, any correction is likely to be subtle with buying coming in with marginal dips.
Nifty saw a spectacular rally of almost 150 points after breaching the falling channel at 5000. With this Nifty has formed a strong Bullish Belt Hold pattern for the day.
Nifty is once again close to its all time highs for the year at 5183. Profit booking could be witnessed today as Nifty attempts to breach this strong resistance.
However since the up move seems extremely strong, any correction is likely to be subtle with buying coming in with marginal dips.
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