Nifty Given Breakout Of 10350 Levels


India’s benchmark Index Nifty opened gap up by 75 points at 10302 on Monday. In the first hour of the day’s trade it showed strength as it was sustaining above the levels of 10320 and also took resistance of 10340. At 1pm the index gave a breakout of 10340 and kept on making highs as it closed at 10424. The index had already taken support of 10140 levels as it was also the 200 SMA mark, and now 10454 is the 100 SMA mark which can also act as a resistance zone for the index. The index has to take support of 10380 – 10400 levels to trade above 10454 to see another breakout with a buying momentum.

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