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11.03.2019|EQUITY MARKET|DHFL|TATA MOTORS|BHARAT ELECTRONICS|RELIGARE|CIPLA|

11.03.2019|EQUITY MARKET|DHFL|TATA MOTORS|BHARAT ELECTRONICS|RELIGARE|CIPLA| SUN TV|OIL INDIA|UCO BANK

The index managed to settle the week above 11,000 and formed bullish candle on the weekly scale with the highest weekly close in the last 24 weeks.

Overall price setup suggests bullish bias at the upper band of the trading range but requires a hold above 10,985 to extend its fresh move towards 11,118, then 11,200. Whereas on the downside, support exists at 10,929, then 10,888,” 
Interestingly, the Nifty is trading above its three major simple moving averages 20-DMA, 50-DMA, and 200-DMA that are placed between 10,830 and 10,870. This suggests a validated up move is in progress and strong support zone exists on the lower side
Bullish crossover in MACD (moving average convergence divergence) indicates positivity in Nifty. An increasing histogram of MACD on the daily chart is also indicating bullishness in the index,”

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