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5th April 2016 Nifty Tips NIFTY SPOT: 7758.80 Nifty Future R1: 7821 R2:7852 R3: 7894 Pivot: 7779 S1: 7748 S2:7706 S3:7675
CHART INTERPRETATION • Nifty spot close at 7758.80 on Monday. nifty spot trade between the range of 7550-7700 above that level, nifty may be touch the new level of 7800-7950. Next major resistance for nifty may be 7950. • Mechanical indicator stochastic RSI also showing positive trend.
INDEX OUTLOOK • NIFTY FUTURE:- Nifty future closed at 7790.75 on Monday. The market turned volatile after starting off trade on a strong note but it managed to regain strength in last hour of trade. • INTRADAY STRATIGY:- Buy Nifty above 7760 for the tgt of 7800-7850 with the sl of 7690.
INDEX OUTLOOK • Mahindra & Mahindra announced the launch of its feature-rich, sporty sports utility vehicle NuvoSport with bold styling built on the same new generation platform as the Scorpio. • MBL Infrastructures has bagged road development projects worth Rs. 2,126 crore from NHAI in Uttarakhand and Uttar Pradesh. • Bajaj Auto sales have seen a major upswing, rising 22% in March to 3.06 lakh units from 2.5 lakh units in the same month of 2015.
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