As we had stated in our last post, the technical indicators were indicating an upside and then Nifty was indeed bullish in the last session.
Our outlook continues to be bullish with immediate resistance at 5959, 5976 and 5985. Above 5985 fresh longs will be built in.
In case of unexpected supply setting in, the immediate support will be at 5923 below which it may go down to supports of 5914 and 5893.
The intra-day traders may continue to ride the longs with stop loss at 5858.
The mid term investors may continue to place bids as indicated below.
HCL Tech 824.10
HDFC Bank 667.85
ITC 342.65
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