Nifty might open gap down at around strong support zones of 5150-5160. Below 5150 only Nifty will get weak for extreme short term.
Below 5150 also there is a strong support zone around 5100 because of 2 reasons.
1. Black trendline support comes at 5110 which joins two recent lows.
2. 50 DMA is placed around 5100.
Short Nifty only if it sustains below 5150 for targets of 5110-5100.
Dow Jones View:
Around 10500 there is a huge trendline support. The trendline is drawn by joining 3 major lows during this non stop rally from 6500 to 10500. The DowJones will get somewhat weak if it closes below 10500 but next good support is not far away which is placed at 10150-10200 - a combination of 2 support lines ( orange and black line ). Any close below 10100 will be a worry sign for investors and traders.
Stock View: GtlInfra
The stock after such a big move from 37 to 43 has been consolidating in a 5% range of 43-45. The stock is a strong buy above 45.5 for target of 47.5-48 and the stoploss for the above mentioned trade should be kept at 42.7.
Have a wonderful trading day
Regards
Ankit
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