Moneycontrol
Last Updated : Oct 16, 2018 07:28 PM IST | Source: Moneycontrol.com

Buy or Sell | Use the relief rally to liquidate stuck long positions

Nifty Bank may see some correction with 24,900-25,000 being the psychological support zone.

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The Nifty is expected to hold on to the support zone between 10,200 and 10,250. A relief rally may take the index up to 10,500, believes Rajesh Satpute, Associate Director - Research, LFS Broking Pvt Ltd.

He added that Nifty Bank might rebound from 240,000 - the zone hwhich acted as critical support - to 25,200. Nifty may face mild resistance in the 10,500-10,550 zone and is expected to consolidate between 10,400 and 10,550 before advancing to the next target, Satpute said.

Nifty Bank may see some correction with 24,900-25,000 being the psychological support zone. This rally should be used to liquidate stuck long positions. It could also be used as bargain hunting for short-term momentum players.
First Published on Oct 16, 2018 07:20 pm
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