NIFTY50

Broke the 13080 on close basis after holding to the low around 12900. This brings bulls back while bears ability to hold the decline comes into question. However, persistent divergences cautions occasional bouts of profit taking while pushing higher base is the ideal scenario. Expected correction remained short lived. This pushes the new range to 12950-13150. Initial rise today can be sold 13160 stop for 13020. Buying preferred 13040 stop 12970.