Nifty continued it bearish stand and closed with significant loss. After making a weak start followed by a quick oscillatory session in the intraday trade, nifty closed after breaching several of its important supports. Level wise, closing below the vital 5200 and 5180 levels will infuse more selling momentum among the investors. Broader market too witnessed a weakness and owing to selling in Large Cap, small cap and midcap, bears outnumbered the bulls, with a good margin. In today’s session, Nifty stripped off its vital 9,14 & 100 day’s SMA placed at 5270,5219 & 5220, yet it managed to close above the vital 50day’s SMA placed at 5058. These levels may be the new ranges in forthcoming sessions. In today’s session, VIX, the barometer of uncertainty, zoomed and closed at a little higher than average level of 24.54, indicating an average volatility in market in the forthcoming sessions. RSI (14) for the session was at 51.03 levels and MACD closed below the signal line, thus combined together they are giving the signals that; market may continue to witness some range bound movements in forthcoming session amidst higher volatility.
R1-5265
R2-5304
S1-5159
S2-5053
(MID-TERM CALL ) SELL IOC FUTURE @ 281 TGT- 250 & 220
NIFTY LEVEL
R1-5265
R2-5304
S1-5159
S2-5053
(MID-TERM CALL ) SELL IOC FUTURE @ 281 TGT- 250 & 220
