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NIFTY TECHNICAL VIEW: UPTREND CONTINUES

Nifty again took support just below 9600 and bounced back on positive global cues, good monsoon, and GST hopes.

Nifty will remain in long term uptrend above 9600 and next immediate resistance is 9850.

9600 is proving to be a crucial level and if it falls and stays below 9600, it may drop up to 9400 but major trend reversal will be only below 9200.

Investors should stay invested in balanced funds. They should be cautious on mid and small cap funds as the valuations are very rich.

 

 

Disclaimer:

Market View: UPTREND CONTINUES /20/ June /2017.