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We believe that the long-term bullish trend is intact but in the short to medium term, we might see some profit booking in the benchmark index, said Vidnyan Sawant of GEPL Capital
Going ahead, 15,660 (June 1 high) will act as a key resistance level. If prices break above it, we may see the Nifty move higher towards 15,725.
The key support levels to watch out for in the short-term are 15,135 (previous swing high) and 14,884 (5-day low).
Going ahead the 15140 will act as a key resistance level. If the prices break above the 15140 marks, we might see the index move higher towards the 15292-15300.
Going ahead, 15000-15050 will act as a key resistance level. If the prices break above the 15050 marks, we might see the index move higher towards the 15292-15300.
Looking at the benchmark index, Nifty, we can expect it to move in a broader range of 14,500-15,000, said Karan Pai of GEPL Capital.
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