Nifty has support at 4250-4320: Karvy

According to Karvy Stock Broking Technical Analysis report, for Nifty lower support is placed at 4250-4320.

Karvy Stock Broking Technical Analysis report:

World markets have ended on a negative note while domestic indices had already suggested weakening signal yesterday. Lower supports are placed at the 14200-14300/4250-4320 levels. While such a profit taking spell is healthy after a steep rise in the last five sessions, the only concerning factor is if indices open with a downward gap formation today, the same should not be left unfilled. (Will raise possibilities of yet another Island reversal). As long as indices manage to fill up any such downward gap and hold the indicated supports, the uptrend is likely to continue.

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