
30-October
Markets likely to open higher, Buy on Dips: Nifty opened on a
positive note and managed to clock a fresh lifetime intraday high
of 10366.15, however the index remained subdued throughout
Friday’s trading session as traders chose to take profits off the
table ahead of the weekend. On a weekly basis the index eked
out gains of 1.74%. We maintain our positive stance on the
markets and also recommend traders to accumulate good quality
stocks on dips as we expect the index to trade in a range of
10200-10450.
Going into today’s session, the index has its immediate support intact around 10280-10260 below which 10220-10200 will act as strong supports. Whereas on the upside, immediate supply in the index can be seen around 10370-10400 crossing which the index could witness some stiff resistance around projected levels of 10450-10470
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