Yesterday NIFTY opened on a positive note and it jumped above the 14900 mark in early trade. It tested 14950 but could not breach the 15k mark. It could not sustain on higher levels and witnessed profit booking on higher levels in the last hour of trade. It ended below the resistance of 14900. One should take aggressive long positions only if NIFTY sustains and closes above the 14900. On the downside, NIFTY has support at 14700 for immediate term and the range of 14300 - 14250 will play as a strong support for short term.
|Buy above 15000||14899||15200|
|Sell below 14700||14786||14500|