Nifty based on previous day's late recovery and closing at higher level shows that the rise will continue further. Nifty future Open interest added 7+ lakh means long build up. Nifty target will be 5340 initially. Global cues are also strongly bullish. Important point here to observe is that our FM also gave a statement giving strength to bullish view.
Contra view: IF nifty could not cross 5238 and falls then the upper more may not happen. This may be due to the Inflation figure that is to be released on Friday and triggers major correction linked with week end factor.
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