Last week Indian stock market continued with its new record.But the last day of the week showed a declining trend in the market .It seems that the Indian stock market, trying to touch the new top tiers .It is to be noted that in the RBI's review of monetary policy held on 1st april,the policy rates remain unchanged. Hopefully in the coming trading sessions , Nifty will trade with positive trends and will cross the level of 7000 .
Technically Nifty
Technically Nifty
If we look at the long term chart,Nifty futures traded in a bullish phase. Currently it is trading at 78 RSI and is above of 50 and 200 daily moving average .It has support level 6685 and 6580 while Nifty future has resistance at 6870 level.If the Nifty remains above of 6685 support level then we can see a fast move in the coming future.
Asian Paints share looks bullish. Currently it gains a fast momentum and it is consolidated around its resistence level at Rs 550 levels.
Source : http://business.bhaskar.com/article/BIZ-nifty-may-try-the-7000-points-level-4579363-NOR.html
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