Tug of war between bulls & bears continues

has to hold above 81400 zones, for strength to be seen towards 81750 then 82000 zones whereas supports are placed at 81400 then 81200 zones. Nifty has to hold above 24500 zones for an up move towards 24700 then 24850 zones whereas supports can be seen at 24500 and 24400 zones

- Motilal Oswal Team

Nifty Index opened positive but failed to cross its previous day's high and gradually slipped in the first half of the session. It showed some swings in the next half and finally settled near 24600 zones. Index has been witnessing a tug of war between the bulls and bears from the last three trading sessions with support based buying but lack of follow up action. It formed a small bodied candle on daily frame with longer lower shadow but has been making lower highs from the last three sessions. Now it has to hold above 24500 zones for an up move towards 24700 then 24850 zones whereas supports can be seen at 24500 and 24400 zones.