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What is Eagle Eye Equities Market Analysis about?
The Nifty opened gap-up but failed to sustain above 12,000 and closed lower towards the end of the session. Technically, the Nifty is in a minor degree correction phase and may slide to 11,700-11,600 in the next week. Key support is at 11,490 and resistance at 12,103. Bank Nifty key support is at 29,200 and resistance at 31,370. Momentum indicators suggest selling specific futures like Escorts and Tata Chemicals with defined risk-reward.
- Author
- Roger
- Language
- EN