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Monday, May 9, 2016

Market Update - Nifty Spot Levels -


Nifty Spot opened up well above the bullish level 7760 at approx 7772 and made a high of 7833 on nifty spot

Now if Nifty Spot sustain below 7810 then MKT will witness selling pressure and try to rest test 7770-7760 & 7730-7710 on Nifty Spot.

Mkt may witness profit booking around 7870-7890.

Next round of fresh buying will only emerge once Nifty Spot Sustain Above 7905.


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Update - 1

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⁠⁠⁠Nifty Spot currently trading at profit booking zone of 7870-7890

No fresh long advised at these levels, better to book long and stay lite. The one who wish to carry long stay fully hedged.

Fresh buying advisable only once Nifty spot crossover 7905.

On downside if profit booking comes then nifty spot likely to take support BTW 7820-7810

If Nifty spot break and sustain below 7810 then one can create fresh short position as mkt will test 7770-7760 & 7710-7680 on nifty spot.

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