Sunday 22 February 2015

Market Update - 23rd Feb 2015

USA and Europe have made lifetime new high and closed above them.

Europe tensions are now over as deal has been agreed upon, so the uncertainity
in global markets are now over.

From today, Budget session is started. So we should see some good momentum
built up.

Intraday Support: 8880, 8840
Intraday Resistance: 8880, 8900

Looking at current market movement, we may see good momentum that could
be picked up as there are too many shorts which have got built up.

If short covering is able to break 9000, we could see further rally.

Keep stop loss below today's low and hold your Nifty positions

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