Good Morning ....!!
NIFTY Levels:
Resistance: 3060/3090/3110
Support : 3030/3005/2990/2950
We have kickstarted the New year with a positive note, after a choppy half session Nifty spurted in later hours on thursday to close near the days Highs. This strength shown by indian indices, despite being most of the major Global indices shutting down for trade, reflects that the indian markets have gained a strong support at the 2850 lelves for the nifty. We can expect this to be a strong lelvel for the nifty to break over the short term. At the maximum Nifty may rally upto 3060-3110, where it faces stiff resistance. Above 3220 we may touch 3400 & below 2850 we may see 2770/2550 levels. So plan accordingly as accumulating some puts will be a good idea at higher levels.
We may open strong on nifty as the Asian indices are positive and showing good strength.
Straits Times (+323.34)
Hangseng (+323.34)
Although we may face some selling at the higher levels ... we advice to keep stoploss for long positions.
HAPPY TRADING.............!!!!
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