Now after closing above 2860, Nifty is poised at important resistance levels of 2875-2880. If it finds support at this level, it can go up to 2930 where again some fresh shorts will be build up.
Shorting Nifty is not advised till it stays above 2800 levels. On any intraday pullback, one may buy Nifty or Buy 2900 Call options with stop loss at 2810 Nifty Spot. However, any long positions should be built up only on pullbacks near support levels as not much volume can be seen at higher levels presently.
For 2 Feb, 2009, Nifty faces resistance at 2875-2900-2930. Support exists at 2855-2820-2800.
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