Nifty witnessed a very volatile session and closed with modest gains besides maintaining 4800 level.
Level wise, closing above the vital 4800 levels may depict strength of the bulls in the
forthcoming sessions.
Broader market witnessed mixed sentiments, though midcap and Large Cap were strong, small
caps were under sellers’ grip. Owing to this, bears outnumbered the bulls with significant
margin.
Due to profit booking Nifty re-conquered its 9 day’s SMA placed at 4795 but continued to close
below its vital 14, 50 & 100 day’s SMA placed at 4893, 5022 & 5144.
VIX, the barometer of uncertainty, closed at a little corrected level of 26.55, but still indicates a
more than average volatility in market in the forthcoming sessions.
RSI (14) for the session was at 41.55 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 For Tomorrow
R1-4868
R2-4925
S1-4771
S2-4731
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BUY FLEXITUFF ABOVE 291 TGT 303 & 315 SL -281
BUY TATA MOTORS FUTURE ABOVE 174 TGT 177 & 180 SL 171
