short term trend of the market:
as per technicals 16,900-17,000 / 5020-5050 levels was said to act as a strong
resistance. As expected, during last week, indices moved within the range of 16,600 - 16,900 / 4,980 - 5,070 levels
and but on the last day, indices moved above the 200 day EMA. - 16702.
next week may push indices up to 18,000 - 18,300 / 5,350 - 5,400 levels. anyway, in next 2 - 3 weeks there will be witness some profit booking.try to book profit around 18,000 -18,300 / 5,350 - 5,400 levels.
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