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4th March 2016 Nifty Tips NIFTY SPOT: 7475.60 Nifty Future R1: 7485 R2: 7521 R3: 7581 Pivot: 7425 S1: 7389 S2:7329 S3:7293
CHART INTERPRETATION • Nifty spot close at 7475.60 on Thursday. Nifty made a bottom and showing reversal trend after declaration of 2016 budget which market took positive. Nifty spot may show the level of 7500 Soon. • Mechanical indicator stochastic RSI also showing positive trend.
INDEX OUTLOOK • NIFTY FUTURE:- Nifty future closed at 7449.55 on Wednesday. Nifty ended at 1-month closing high. Hopes of an early interest rate reduction announcement by the RBI and strengthening Indian currency against the US Dollar was among the major factors for today's run-up. The sentiment also remained upbeat after the International Monetary Fund projected a robust growth rate of 7.3 per cent for the country this financial year, and moving up to 7.5 per cent next year. • INTRADAY STRATIGY:- Buy Nifty above 7450 for the tgt of 7500-7550 with the sl of 7370 .
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