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Market Outlook:
The
markets ended on a flat note after a volatile session. Buying was seen in Realty
and Banking sectors while Technology sector witnessed selling
pressure.
Nifty:
Nifty
continued to consolidate amid high volatility and ended on a flat note.
Support is seen at 5900/5880 levels. Nifty is expected to trade in the
range of 5850 on the lower side and 5950 on the higher side and any strong
move on either the side will decide the trend. Resistance is seen at
5950/5980 and a close above this level will further extend the rally up to
6020/6050 levels in the near term.
Support: Major
support level 5900/5880.
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Investment Ideas
- GRASIM @ Rs. 3202 (Target Price: Rs. 4000)
Trading Ideas
- Positive bias - JP Associates
(Target 120), KTK Bank (Target 210) & Jet Airways (Target 625).
Traders maintain stop loss accordingly.
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