Nifty View: Momentum continues beautifully as the benchmark Nifty scaled further heights like a breeze. No intraday volatility and not much over-head resistance either was observed in today’s session. Two successive positive weekly closes from the index now with a gain of over 700 points. A psychological level of 16,500 was met in today’s session and so early next week it will be natural to see some momentum cool off. Any short term correction should ideally face support at and around (15,300-15,350). Stay with the trend and keep a bullish bias.
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