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Support for Nifty at 5,275-5,200: Prakash Gaba

SI Reporter/ 10 Jul 12 | 08:28 AM

Nifty (5275)

We said "technically the loss of momentum is witnessed and so I would say the market can be considered up as long as 5,275 holds. Strong resistance is at 5,378 if it goes up." The loss of momentum played and the market lost ground but yet to close right on our crucial level of 5275 like a dot technically it looks like the market has now stiff resistance around 5,320 and we could see slide down to around 5,200 if it starts to trade below 5275.

The crucial support for the Nifty is at 5275-5200 and the resistance is at 5320-5378.

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Will Nifty cross 8,300 if RBI cuts rates by over 25 bps?

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