Nifty - Technical Outlook:
On Thursday, the Nifty index opened on subdued note taking the negative cues from the US bourses.
However, the impact of its previous day’s optimism clearly seen as Nifty rallied higher and achieved another milestone by posting an all-time high of 10355.65. In the process, index ended the session near highest point of the day.
Looking at the hourly chart, index has formed a Bearish Divergence pattern. Going forward, we maintain our positive view and advice traders to adopt stock centric approach. For the day, 10385 / 10430 are the near term resistance whereas 10300 / 10260 are the intraday support.
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