Kapil Shah - Instructor
• In the week gone by, Index has breached 2 months long resistance level of 15900 levels and made all time high.
• Major contribution came from financial stocks.
• Financial service index was up by 4%. From a very short term perspective, Index has immediate support at 16200 level.
• Move below 16200 level can extend its fall upto 15900 level which is role reversal.
• Fall will be considered as a corrective decline move in a strong uptrend.
• Nifty bank is at the upper band of consolidation patch but retains its positive view.
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August 7, 2021
August 9, 2021