Trade Plan: Nifty sustainable pullback only if it takes out 9,050-9,100 zone

Continuing to resist key levels, the headline index ended with a gain of 67.50 points or 0.76 percent at 8,992.80. Volatility cooled down considerably as India VIX declined 7.32 percent to 49.10. The price action of Nifty against 9,050-9,100 will remain crucial over the coming sessions. Any sustainable technical pullback would happen only if the index moves past and keeps its head above this zone.

Friday’s session is likely to see a tentative start, with 9,050 and 9,115 levels acting as immediate resistance. Support may come in at 8,930 and 8,850. Any downside move is expected to make trading range wider than usual over the coming sessions.

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