zeel rocks ACHIEVED all TGT 540
buy on dips with a stop-loss at 9,430
Nifty contract is gaining momentum. After recording a close
above the psychological 9,400 mark on Wednesday, the contract opened with a
gap-up today and has risen further.The outlook is bullish. Support is in the
9,440-9,430 region which can limit the downside during the day. Immediate
resistance is at 9,470. A strong break above this hurdle can take the index
futures higher to 9,500 or 9,525 going forward.Short-term traders can go long
at current levels and can accumulate on dips near 9,445. Stop-loss can be
placed at 9,430 for the target of 9,500. Revise the stop-loss higher to 9,470
as soon as the contract moves up to 9,490.The intraday outlook will turn
negative only if the contract declines below 9,440. Such a fall can drag it to
9,425 and 9,400 thereafter.
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