Today Nifty witness very volatile session in range of 5000 to 5060. But there was accumulation in most of stock in NIFTY 50 with an increase of 2.63 % of open interest in Nifty Future. This somewhere put strong side for being NIFTY at green side in coming trading sessions.
Due to profit booking Nifty re-conquered 5050 level but continued to close above its vital 9, 14 and 50day’s SMA placed at 4854.17,4867.80 and 5017.76. But closed below its vital 100 & 200 day’s SMA placed at, 5124.55 & 5343.21. VIX, the barometer of uncertainty, closed at a little higher level of 25.02, but still indicates a more than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 53.99 levels and MACD closed below the signal line. Market may continue to witness some range bound movements in forthcoming session amidst higher
volatility
NIFTY levels
R1-5145
R2-5197
S1-5020
S2-4970
BUY NIFTY ABOVE 5075
BUY MOTHERSON SUMI @ 155 TGT- 162 & 170 SL- 149
TGT- 5110 & 5145 SL 5035
