Stock Market Live: Sensex advances 250 points, Nifty 50 above 17,050

Nifty 50 Update | Anuj Singhal’s Take On The Market

– Texture remains sell on rally and cover at lower levels
– Resistance today: 17,066, 17,146, and 17,185
– 17,146 is Friday’s Intraday high
– Almost every long trader has a stop loss at 16,800
– High risk that 16,800 will break decisively
– For the Nifty Bank – the index has been rejecting its 200-DMA repeatedly
– Current 200-DMA is at 39,650
– Resistance zone is 39,550 – 39,750
– Buying will resume only if the index sustains above 40,000

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