With positive US market and a very strong Asian markets expect a strong opening for nifty. Gap up of 50-100 points cannot be ruled out. Additionally the stimulus package announced by RBI will also help in keeping this rally on. This ongoing pullback rally may be on for couple of sessions.
For today on the lower side nifty may find support near 2786, 2747 or 2687 levels. Similarly on the upper side resistance exists near 2973 or 3059 levels. Nifty has to close above 2951 to sustain the ongoing up move and move towards 3000 or higher levels. Japan market is closed for today.
Happy Trading !
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