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The nifty will set up a shallow up-trend channel over the in coming few sessions. The nifty has fall down as 10276, as it was relatively weaker than the last few session stock market again, and now it says that it may take support as 10276 and nearby that it will go up and resistance may take as 10,552.
The Nearest important level of resistance of the Nifty50 index is at around 10631, marked by previous consolidation. The next resistance level may remain at 10,552, marked by short-term local highs. On the other hand, support level remains at 10323 is near, marked by local low. “If the market continues lower, the potential level of support would be at 10323, marked by previous short-term consolidation”. So in traders mind it may advise buying at 10323or near to that support and go for the target 10,552 and more high.