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View Full Version : Nifty Witnesses Profit Booking as GST Delayed by a Week



DynamicLevels
07-19-2016, 09:53 AM
Nifty (https://www.dynamiclevels.com/en/nifty/nifty-share-price) witnessed a second round of profit booking from 8605 levels which was its previous day high and fell to levels of 8510 giving a correction of 95 points. Similar correction was witnessed on Friday and this being second consecutive day of correction, it indicates 8605 area is turning out to be a strong zone of resistance for Nifty. However the uptrend in Nifty is intact as the cash market along with derivative data suggests buying at current levels with possible support of 8450 to 8470. Sentiments turned negative yesterday as there was a delay in tabling of the GST bill.The top 5 gainers for Monday were Bajaj Auto, Kotak Bank, Sun Pharma, Infratel, Axis Bank.Nifty is expected to open at 8538 as per SGX Nifty at 8:35, which is 27 points gap up from yesterday's close of 8511.