Analysts said Nifty may witness further bounce if it manages to hold above this level. Can the index manage to take out the 15,300 level this week? Or will we see some more consolidation?
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Synopsis We might see some consolidation in the index and it would be healthy. We thus advise using intermediate corrective moves to accumulate quality stocks on dips and avoid contrarian trades, said Ajit Mishra, VP - Research, Religare Broking.
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Analysts said the 15,060-15,050 range is crucial and any breach of this zone may extend profit booking going ahead.
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NEW DELHI: Nifty made a gap-up opening on Tuesday, but saw a volatile trade in the intraday session snapping its winning streak. The index closed slightly lower than its opening numbers and formed an indecisive candle similar to that of a Spinning top on the daily charts.