Nifty witnessed yet another weak session and closed with significant cuts besides losing the vital 4800 level.
Level wise, closing above the vital 4700 levels may initiate some recovery in forthcoming
session.
Broader market witnessed buying across the segments but despite buying in Large Cap, small
cap and midcap, bears outnumbered the bulls again, with a slender margin.
In today’s session, Nifty remained below its vital 9, 14, 50 & 100 day’s SMA placed at 4950,
5062, 5044 & 5185.
VIX, the barometer of uncertainty, closed at a higher than average level of 30.68, indicating a
more than average volatility in market in the forthcoming sessions.
RSI (14) for the session was at 28.51 levels and MACD closed below the signal line.
Market may continue to witness some range bound movements in forthcoming session amidst higher
volatility
Nifty level
R1-4735
R2-4770
S1-4656
S2-4630
BUY NIFTY ABOVE 4717 TGT- 4735 & 4770 SL - 4690
Level wise, closing above the vital 4700 levels may initiate some recovery in forthcoming
session.
Broader market witnessed buying across the segments but despite buying in Large Cap, small
cap and midcap, bears outnumbered the bulls again, with a slender margin.
In today’s session, Nifty remained below its vital 9, 14, 50 & 100 day’s SMA placed at 4950,
5062, 5044 & 5185.
VIX, the barometer of uncertainty, closed at a higher than average level of 30.68, indicating a
more than average volatility in market in the forthcoming sessions.
RSI (14) for the session was at 28.51 levels and MACD closed below the signal line.
Market may continue to witness some range bound movements in forthcoming session amidst higher
volatility
Nifty level
R1-4735
R2-4770
S1-4656
S2-4630
BUY NIFTY ABOVE 4717 TGT- 4735 & 4770 SL - 4690
