Next resistance for Nifty is seen at 21530, which happens to be 78.6% extension level of the recent swings - HDFC Securities
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Daily Technical View on Nifty
* After yesterday’s sharp recovery from the lower levels, Nifty continued its upward journey and registered a fresh all time of 21210.
* Nifty surged 256 points to close at 21183.
* Advancing shares outnumbered the declining shares for the second day in the row as advance decline ratio stood at 1.21 levels on BSE.
* Psychological resistance of 21000 now becomes support for Nifty now.
* Next resistance for Nifty is seen at 21530, which happens to be 78.6% extension level of the recent swings.
* Indicators and oscillators have turned bullish on hourly chart
* Primary trend of the Nifty is bullish and dips should be utilized to go long
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