INSUBCONTINENT EXCLUSIVE:
NEW DELHI: After a day of strong gains, the Nifty50 witnessed strong resistance around 10,440 level on Thursday, but eventually erased
entire gains to settle flat
The index needs to take out the crucial 10,435-10,450 range on a closing basis for any sustainable rally, they said.
Traders are advised to
adopt a neutral stance and look to buy on any fresh breakout above 10,450, said Mazhar Mohammad of Chartviewindia.in.
For the day, the index
fell 6.15 points, or 0.06 per cent, to 10,380
The gap-down of October 19 has been filled at 10,435 level, but Nifty50 has not been able to move above the gap resistance in the 10435-40
Securities.
Chandan Taparia of Motilal Oswal Securities said a higher high formation in last four sessions indicated buying interest at
lower levels.
The index, he said, needs to hold above 10,333 to extend its upmove towards the 10,450 -10,480 range
Multiple supports are seen around 10,250 and 10180 levels, he said.
