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Trade Plan: Expect a slow start to Monday’s trade

The recovery did not sustain, and Nifty again turned vulnerable at higher levels Volatility, which halved from its peak, has also made room for negative implications on the chart.

Expect a slow start to Monday’s session with the 9,200 and 9,245 levels acting as resistance points. Support will come in at 9,080 and 9,000 levels.

The coming week is a truncated one, and the April series derivative contracts will expire on Thursday. The market is likely to exhibit a cautious and tentative bias throughout the week. This is likely to limit any upside if at all it occurs. We strongly recommend not chasing up-moves, if any, and keeping exposures limited to the defensive sectors, which are showing resilience in the current market condition. While continuing to protect profits at higher levels, a cautious outlook is advised for the...

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