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Nifty 50 bullish after Q2 GDP data and Trump's warning

Nifty 50 has closed 144 pts up on 2nd December. In my previous article, I mentioned that Trump's warning may not affect the market as sometimes the price anticipate the future updates. Q2 data has also not affected the market much. I suggested to not form a negative outlook as this will blind us from taking long positions if the market present opportunities. This exactly happened today and there was a positive close.


24150 was acting as a support earlier that turned into resistance for today. The level was continuously tested and eventually was able to give a trending move up. However, the index is still not bullish and might face resistance 24330. For tomorrow, the plan would be to wait for price to open near 24330 and let the sellers enter with steep fall. If that fall is recovered by 12 pm then we might see a bullish move. I would take short trades in case the price comes down to 24000 with a liquidity sweep from upper levels. The first target would be till 23900.



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