The markets closed in red today. It was expected on profit booking after yesterdays nice rally though. 17k on Sensex and 5k on Nifty still holds and positively maintain yesterdays prediction.

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Today Nifty closed above 5100 at 5147.95, more than 81 points than yesterdays close. The Sensex also gained 244 points closing at 17227. The Indian stock markets have hovered arounf 17K and 5K respectively for a long time now and have built a good support level I think.

If we close on even higher levels for this week, my guess is we can see a nice run northwards. Any takers to this view?

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