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Daily Technical Report For 02/06/2020

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NIFTY continued its northbound journey and tested our short term target of 9731 yesterday. It  tested its previous high of 9889 and made a high of 9931. NIFTY witnessed some profit booking in the last hour of trade and closed ended just above 9800 yesterday. Now it can test 100DEMA, which is placed near 10038 and above that it can even test 10437, which is 61.80% retracement level of its entire fall from 12246 to 7511. Thus any correction would be a good buying opportunity. On the downside it has a lot of support in the range of 9600 - 9550.

Today's Picks On 02/06/2020

Share Market Daily Picks Manas Jaiswal

Bank of Baroda

Buy

  • 42.45
  • SL: 40.90
  • TGT: 45.50
Share Market Daily Picks Manas Jaiswal

Ashok Leyland

Buy

  • 46.40
  • SL: 44.60
  • TGT: 50

Nifty Imp Levels For 02/06/2020

Open 9726
High 9931
Low 9706
Close 9826
S 1 9711
S 2 9596
R 1 9936
R 2 10046

Actionable Ideas On Nifty for 02/06/2020

Action SL TGT
Buy above 9950 9850 10150
Sell below 9690 9761 9550
Show Timings
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