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Stock Market Opening: The stock market has got strong support from the US market yesterday and today the Asian markets are also getting support. Before the market opened, the movement of Sensex and Nifty was seen well in the pre-opening itself and they were trading at the upper level.
Market condition in early minutes
If we look at the condition of the market in the opening minutes, the Sensex is trading at 59,249.21 with a jump of 288.61 points, or 0.49 percent. Apart from this, NSE’s Nifty
It is trading at 17,546.80 with a gain of 59.85 points or 0.34 percent.
At what levels open market
In today’s trading, the BSE 50-share index Sensex started at 59,196 and NSE’s Nifty has managed to open at 17,568.15.
Dr. Ravi Singh, VP, Head of Research, Share India had given an estimate that today the stock market can open between 17450-17500 and today the trading range of the market for the day can be between 17300-17600. Today the outlook for the market is upper level and strength will be seen in PSU Bank, Media, Auto, Realty and Energy sectors. Weakness can be seen in smallcap stocks with pharma, financial services, IT today.
trading strategy for the market
To buy: Buy when above 17500, target 17580 stop loss 17450
To sell: Sell if below 17300, target 17220 stop loss 17350
Support 1-17435
Support 2- 17390
Resistance 1- 17530
Resistance 2 -17600
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