Overall, the index has been making higher top and higher bottom formation while the supports are shifting higher from 9,075 to 9,119 on an immediate basis which is giving confidence to the bulls.
Investors should remain on the long side as Nifty50 made a strong bull candle on the daily candlestick charts. Investors can keep a strict stop loss below 9,075 on a closing basis for all long positions.
Angel has come out with its special technical report on Dollar Index ($ Index). According to the research firm, the trend in the DX (Dollar Index) is expected to be Up and the currency in our opinion is expected to touch levels of 84.00 to 84.50 by the fourth-quarter of the calendar year.
One can go short in Unitech at around Rs 38.20-38.25 with a stop loss of Rs 40 for the target of Rs 34.30, says Kunal Bothra of LKP.