Nifty has now decisively closed below 2700 and has next major support at 2500 on a closing basis. After moving in a tight range for the entire month of February, Nifty has finally given a breakdown and now Sell on Each Rise should be the mantra for intraday traders, till we close above 2700.
Now for Wednesday, 4 March, Nifty will find a minor support at 2570 and resistance at 2635-2640. Intraday players should look to short on all rallies. The final stop loss for Positional traders should be 2700 on closing basis.
Nifty resistance at 2640-2655-2680. Support at 2590-2565-2520-2500.
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