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Nifty made lifetime high along with the Bombay stock exchange which crosses 36984 points, Sensex has given more than 5% jump in both the indexes, following by big movement in PSU bank and bank nifty index with the highest rollover in bank nifty future following by good business number by stocks in news, Canara Bank, ACC, Indian Bank, Icici Bank Ltd. Now Let see how technically market is placed to trade stocks in action and where can be profit booked.
Nifty index stated initially by a gap up opening and dropped near days low 27060 and made high of 27407 though before taking the final surge bank nifty had taken a dip of 100 points showing bears still have a negative view in this counter and finally closed at 27405 forming a bullish sign but closed below the support.
Experts opinion that Nifty and banknifty are going to make higher high now though closed today below the support of 11178 and 27410 and closing above Bulls will start ruling the market and short covering will make market higher 11250 and followed by 11500 whereas supports are placed at 11078 and 11010 followed by 10850 till the time market will behave in buy and dip as per the experts on various channel like CNBCTV18 and money control.
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Tomorrow follows the above link to know about stock action tomorrow on bases of business performance and announcements.
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Image and article originally from www.marketdrona.com. Read the original article here.