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Ahead of Market: 12 things that will decide stock action on Tuesday


Ahead of Market: 12 things that will decide stock action on Tuesday
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Nimish Shah of Waterfield Advisors said, a correction of up to 10 per cent from Nifty50’s peak value of 15,200 would be a good support level.
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Analysts said it was testing of the 14,200 level that brought buying on Nifty50 at lows.
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NEW DELHI: Nifty opened gap down and traded with deep cuts in the initial session, as the benchmarks bucked the global trend due to a spike in Covid 2.0 cases in India and imposition of curfew in the national capital and few other places. However, Nifty made a comeback due to the buying in dips approach in the market and formed a green Hammer like candle for the day. ....

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market analysis: F&O: Nifty missing follow-up action at higher level


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Nifty on Friday opened positive and headed towards the 14,700 level in the first hour of trade. However, the index failed to hold the gains and saw a decline towards 14,600 level in last hour of trade amid profit taking. The index lost most of its intra-day’s gains and closed the session with a marginal gain of 36 points.
It formed a Doji candle on the daily scale and a Hammer on the weekly scale, which indicate that every decline is getting bought into. However, followup buying was missing at higher zones. Now, the index has to hold above 14,500 level for a bounce towards 14,700 and 14,850 levels, while support on the downside exists at 14,350 and 14,250 levels. ....

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