Analysts say Any show of lack of strength about 13600 could imply minor profit booking from the highs
Nifty futures have been trading 60.50 points up at 13,639 on Singaporean Exchange, suggesting a optimistic opening for BSE Sensex and Nifty 50 on Wednesday. Indian equities may possibly scale a further fresh all-time higher today. In today’s session, stock-certain developments will be critical to watch out for. Besides, marketplace participants will maintain tabs on US Federal Reserve meeting. “The short term trend of Nifty continues to be range bound within a high low band of 13600-13400 levels. A sustainable move above 13600 levels is expected to result in Nifty continuing with next round of sharp upside momentum and inch towards the next upside levels of 13900 in the near term. Any display of lack of strength around 13600 could mean minor profit booking from the highs. Immediate support is now placed at 13450,” stated Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
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