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Bajaj Capital / 10:03 Oct 12,2018
Nifty witnessed for gap down more than 300 points in morning trades on panic selling from global markets. It was recovered form day low more than 100 points but it slipped again in last hour of trading. Finally, it closed at 10234 with 225 points down. Technically it has reached in the oversold zone as it slipped more than 1500 points recent high. The daily RSI has also reached in oversold zone it is at 26.8 -mark. On down side it has also an immediate support near 10100
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Technically, there is very much probability to it maywitness for bounce back from aforesaid support zone. In this case it may movetowards 10660-mak where it may face an immediate resistance. The trend islikely to resume on upside only if it gives 2 consecutive closing above10660-mark. Overall the market is in bear grip. 

For the day, it seems positive on chart If it trades above10277 then it may move towards 10320-10350. If it trades below 10201 then theselling may continue and it may find next support at 10170-10130- marks. More...


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