Mkt construct bullish; macros positive

Motilal Oswal Team

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Nifty opened positive and buying emerged to stretch the index to 26000 marks in the first half of the session.

It witnessed minor profit booking but again picked up momentum from 25900 zones in the last hour and closed with gains of around 170 points. Bulls reattempted at support levels and the index floated above the support levels. It formed a bullish candle on the daily frame and recouped all the losses of the previous session. Now it has to hold above 25900 zones for an up move towards 26100 then 26277 zones while supports can be seen at 25800 then 25700 zones.