We advise traders to hold their longs but with a strict stop-loss of 11,500. A move below the same might halt the upside momentum and we could witness some profit booking
Nifty needs to clear the immediate hurdle placed around 11,700. This being a truncated week, the index has failed to clear the hurdle so far.
The index remained in a tight range during the past three sessions and is currently trading with a weekly change of -0.68 percent. Meanwhile, the Bank Nifty (-0.04%) is extremely flat from its previous week’s close.
FOR MORE INFORMATION: RESEARCH_PANEL_INVESTMENT_ADVISER
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