Tuesday, 2 February 2016

Nifty likely to rebound, may rally upto 7717: CLSA


Laurence Balanco, CLSA feels the Nifty is staging a rebound rally with initial resistance at 7,717 followed by major trend resistance at the 200-DMA and upper boundary of the cited downtrend channel at the 8,156-8,160 area.

Laurence Balanco, CLSA feels the Nifty is staging a rebound rally with initial resistance at 7,717 followed by major trend resistance at the 200-DMA and upper boundary of the cited downtrend channel at the 8,156-8,160 area.

According to him, globally relief rallies continued to unfold, but should ultimately fade.

"The markets are looking for some additional rally attempts this week prior to a resumption of the long-term decline in February," Balanco says, adding he continued to recommend selling this rebound.
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pranjali upadhyay said...

The Sensex dropped 173.63 points or 0.70 percent to 24651.20 and the Nifty fell 60.35 points or 0.80 percent to 7495.60.
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