Few market experts believe Nifty-50 may find strong resistance around 7,600 level. They feel the index may test 7,250 in the short term."A major resistance for Nifty-50 is near 7,600 right now. I think that is a key level that Nifty futures has to break before it can move high. On the down side, we have been watching supports getting built at 7,350-7,400 from options, which are also getting retested again. So, there is about to be a correction before we begin to move high & that correction could actually take Nifty-50 back to the 7,250 level," told by Sahil Kapoor of Edelweiss Securities.
"Nifty-50 can decline till the 7,420 level, not too much below that," said by Mr. CK Narayan, Founder, Chart Advise. "One could be looking at near-term bottom at near that level."
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