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Trade Plan: Nifty must cross 9,050-9,100 for next leg of rally.

Trade Plan: Nifty must cross 9,050-9,100 for next leg of the rally

Wednesday. Unfortunately, The market failed to capitalise on the strong opening, and from the high point of the day, the headline index fell nearly 400 points. It finally ended with a loss of 68.55 points or 0.76 percent at 8,925.30.

With Nifty failing to keep its head above 9,050-9,100, this zone has reinforced itself as a strong resistance area. The index moving past this zone will continue to remain crucially important if the market has to see any kind of up move. 8900 is a crucial support to work with and upside to 9383-9585 is still a possibility less expected’

8835-8639 is a possibility…stiff resistance 9148

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