Our Services Are

Yesterday, NIFTY opened on a positive note and jumped above the 23,250 mark in early trade. The index subsequently breached 23,300 and tested 23,350 during the afternoon session. However, profit booking emerged at higher levels, and NIFTY eventually closed below 23,300.

NIFTY is still struggling to sustain at higher levels; therefore, we should remain cautious. A break below its June low of 23,070 could lead to further weakness, in which case NIFTY may decline towards 22,600.

On the upside, the 23,400–23,600 zone will act as an important resistance area. Therefore, fresh long positions should be considered only on a decisive breakout above 23,600.