Nifty future faces resistance at 10328 and at 10365-10375 region.Crossing 10375 will have bullish implication and has an upside target of 10713.The Stochastic Oscillator and RSI on daily chart indicates further upside in it. The 60-min chart shows that the rally may fizzle out soon and may find support near 10250-10255 region.The Stochastic Oscillator is in overbought zone and RSI near 65, showing the sign of correction due to it. A break of support of 10250 will take it to the next support level of 10175 for this week.
The positional traders can go long above 10375 with a stop loss of 10250 for the target of 10713.
The day traders can buy it around 10279 with a stop loss of 10249 for the target of 10365 and sell it below 10250 with a stop loss of 10281 for the target of 10176.
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