Nifty made 7.2% up move in this week which is the best move in this year. But still volumes are not convincing.
Now Nifty is trading above the 5000 psychological level.
Until Nifty holding 5020 the up move will continue on closing below 5020 will take the Nifty towards 4920-4860 the gap which has to be filled before crossing 5350.
The zone between 5110-5170 is the supply zone . Nifty will find difficult to cross this zone.
For Monday if Nifty comes to 5020 one can initiate buy with stop loss of 4990 for the target of 5110 and 5170.
Buy Axis bank in between 997-1105 with stop loss of 990 for the target of 1045
All prices are based on spot
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