The index registered a strong close not only above 16040 but also above its 16100 mark - Tradebulls Securities
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Nifty
Eagerly awaited level of 16040 was breached by a vengeance as the index registered a strong close not only above 16040 but also above its 16100 mark. With its daily RSI trending around 65 is yet to register an overbought zone while the unwinding pressure may push the index towards 16260 zone on immediate basis. The confluence zone on the upside wrt to its pitchfork tool & the consolidation breakout target zone been placed around 16530. With incremental signs of strength expect the index to remain steady towards 16530 & still be participated with fresh long additions with a stop below 15930 on CLBS.
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