Nifty future snaps its eight-day winning streak to close lower at 10377.55.The rise had a weak momentum on the upside and had a narrow range movement. The Stochastic oscillator in daily chart is turning down and the RSI is near 60 levels indicate the corrective nature of the rise which may end soon.Wait for the price action to confirm the trend.
The positional traders should maintain their long position with a stop loss of 10349 for this week for the target of 10500 and 10680.
The day traders can buy it above 10393 with a stop loss of 10377 for the target of 10449 and 10464 and sell it below 10377 with a stop loss of 10395 for the target of 10351 and 10324.
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