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BUY RENUKA @ 58.40 TGT 59.60 & 61 SL -57.80
BUY NIFTY FUTURE ABOVE 5180 TGT 5230 & 5270 SL 5156
Nifty market overview for today:
For today's stock market nifty made some bullish and regained some of its vital support level. Nifty made some gains for today's market. Showing some strength in the stock market Nifty has recaptured its sentimental support level of 5100 and 5130. Owing to big ticket buying in large caps, small cap and midcap, In today’s session, Nifty not only closed firm, yet, maintained its closing above the vital supports of 9, 14 & 50 day’s SMA placed at 5050, 4984 &5001but closed below 100day’s SMA placed at 5262. These levels may be the new ranges in forthcoming sessions. In today’s session, VIX, the barometer of uncertainty, corrected and closed at a modestly low level of 24.05, indicating lesser than average volatility in market in the forthcoming sessions. RSI (14) for the session was at 56.91 levels and MACD closed above the signal line, thus combined together they are giving the signals that; market may continue to witness some range bound movements in forthcoming session.
NIFTY LEVEL FOR TOMORROW
Resistance Level 1-5175
Resistance Level 2-5230
Support Level 1-5107
Support Level 2-5056
