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NIFTY DAILY - BULLS CHEER

Nifty closed in  green at 5165 after scoring splendid 65 odd points on the cards.The market breadth remain positive with 926 advances to 513 declines.Markets witnessed a subdued opening ,very much stuck in tight range.Till mid session markets lingered in the range,then suddenly came a spree of buying taking the markets across the 5130 range up to the day high.,With this move the participants made an attempt to move forward with the trend .Now nifty is expected to trade higher with initial resistance at 5200 followed by 5400,and is expected to take a support at  5100 and 5050.
                                         If the markets move with the same vigor and valor ,then we might soon see 5400,and probably crossing it moving forward to 5600.The Markets have taken support of the 40DMA and risen higher.Also the Stochastic indicator has given a positive crossover ,with this we can expect markets continue to rise higher in following sessions.The markets will need to be consistently supplied with fuel to continue the upward trend.
                                                          I am pretty sure that markets will remain positive till they are afloat 40DMA ,in case if it is violated we might expect short term trend to turn bearish,and the negative alternative will open up.till then cheer and hold the long.

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