Domestic equity benchmarks are likely to see a positive start on Monday, tracking firm trading in other Asian markets.
At 07:45 am, Nifty50 stock futures on Singapore Stock Exchange were trading 48 points higher at 8,243, indicating a strong opening in the domestic market. But second quarter results of the IT behemoth Infosys could change the course of the day.
The 50-pack NSE benchmark, which closed at 8,189.70 on Friday, would anyway be looking to breach 8,200-mark in morning trade.
The 8,200 level is emerging as a confluence of multiple resistance points like 200 Day EMA, gap zone registered on August 24 between 8,225 to 8,060 level, and now newly formed upper boundary of a 20-day old ascending channel, pointed out Mazhar Mohammad, Chief Strategist - technical research & trading advisory at Chartviewindia.in.
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