Nifty Expected to Trade Rangebound with Bears in Control ahead of 29 Q3 Earnings Reports
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Nifty likely to trade in 21,100-21,500 range in coming week, with 21,100 and 21,000 as key support levels and 21,400 and 21,500 as resistance.
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Sentiment seems aligned with bears given lower highs and lows pattern on charts and negating of 12-week higher highs formation.
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Bank Nifty managed to defend 200-day EMA and 44,500 mark, but needs to move above 45,500-45,700 for relief rally.
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Stocks seeing high delivery, rollovers include Axis Bank, Shriram Finance, Glenmark; long build-up in NALCO, ICICI Bank, IndusInd Bank.
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29 companies to post Q3 earnings on Jan 29 including ITC, BPCL, Vodafone Idea, Piramal Enterprises.