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MTECHTIPS:-Market Snapshot
Nifty futures witnessed a sharp recovery after taking crucial support from 5630-5650 bands and rally was seen towards 5750 levels on the back of short covering in many frontline stocks. Nifty after crossing 5700 psychological area witnessed unwinding in 5700 strike price to the tune of 2.5mn shares. Market witnessed buying interest almost across the board especially in Realty, CG, Metal, Power, Banking, PSU, Tech and FMCG space whereas selling pressure was seen only in HC sector stocks. Nifty for the day, if it sustains 5750 levels then rally may be seen towards 5800 levels whereas if it fails to hold 5700 levels on downside then selling pressure may be seen towards 5650 levels.
Nifty futures witnessed a sharp recovery after taking crucial support from 5630-5650 bands and rally was seen towards 5750 levels on the back of short covering in many frontline stocks. Nifty after crossing 5700 psychological area witnessed unwinding in 5700 strike price to the tune of 2.5mn shares. Market witnessed buying interest almost across the board especially in Realty, CG, Metal, Power, Banking, PSU, Tech and FMCG space whereas selling pressure was seen only in HC sector stocks. Nifty for the day, if it sustains 5750 levels then rally may be seen towards 5800 levels whereas if it fails to hold 5700 levels on downside then selling pressure may be seen towards 5650 levels.
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