MTECHTIPS

MTECHTIPS:-
 Nifty:
The  Nifty  opened  positive tracking  strong global cues,  and the
markets failed to hold on to the initial gains and dipped gradually to
test levels below 5350 again.
The opening is expected to be positive taking cues from the mixed
Global peers. But  the gains may be limited, and volatility may
remain high intraday. Nifty has failed to fill the gap down formed
during the negative island reversal formed a couple of weeks ago.
Nifty wasn't able to completely close the gap at 5344, as the day’s
high for the nifty was 5342, which kept the gap partially unfilled.
Now if nifty falls below its crucial support levels at 5250 there
would be a lot of negativity in the market and Nifty has been in a
range of 5135-5500 and till result season is not over the range
would be maintained with stock specific moves. Today results of
stocks like ACC, HINDZINC & AMBUJACEM and on Friday
CAIRN and RELIANCE which would be keenly watched.
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