INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The Nifty50 rebounded smartly on Monday to snap a three-day losing streak
The index formed a bullish candle with a long wick, suggesting buying at lower levels.
The index has been seeing buying at lower levels
whenever it has drops below the 10,900 mark
On Monday, it bounced back after testing a key support at 10,850 mark
HDFC Securities.
The market will remain closed on Tuesday on account of Gandhi Jayanti.
During the day, the index took support at the 50%
Fibonacci retracement level placed at 10,850, suggesting strong support in the 10,800-10,850 range, said Aditya Agarwala of YES
Traders are advised to go long in the next session by making use of the initial dip, if any, in the first 30 minutes of trading with a
last three sessions and now holds above the 11,000 mark, which may bring support-based buying and take Nifty towards 11,080.
