Amar Ambani, Head of Research, IIFL said, “Strong rollover on account of F&O expiry, stabilizing rupee around the Rs66 per dollar mark, government’s intent to get fresh reforms and partial bargain hunting at lower levels saw the NSE Nifty surge higher. Immediate resistance for the Nifty is placed at 8030 level which is the 38.2% retracement of the fall since early August 10, 2015.”
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