The Nifty Started The Week On A Cautious Note Ahead Of The Much Eyed And Awaited Karnataka Election

The Nifty started the week on a cautious note ahead of the much eyed and awaited Karnataka election result.

It is currently facing resistance at the midpoint of the rising channel placed at 10,835 level, a sustained trade above this resistance can take it higher to levels of 10,900, with 11000 being the upper end of the channel.

On the downside, 10,700 is a crucial support zone, which happens to be the lower end of the channel. A trade below 10,700 can halt the bullish trend, dragging it lower to 10,600-10,530 levels.

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