Nifty has been witnessing profit booking since last two trading days. This indicates that Investors are using each and every rally to lessen their delivery positions. The possibility of long term uptrend is at this stage is still uncertain taking into view the global economic developments. Good support exist at 4950 levels and below this, Nifty can go down to 4,900 - 4,870 levels. Next trigger for the market will be the outcome of RBI’s monetary policy on 16th Sept. Till that time, Nifty is likely to be range bound between 5,150-4,850.
Nifty opened negative around 4,993 and made an intraday low of 4,942. However, it reversed and saw buying interest for rest of the day where Nifty cleared the 5000 mark and closed strong at 5064 up 0.9%. It made an intraday high 5,072.90.
Nifty opened negative around 4,993 and made an intraday low of 4,942. However, it reversed and saw buying interest for rest of the day where Nifty cleared the 5000 mark and closed strong at 5064 up 0.9%. It made an intraday high 5,072.90.
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