Nifty continued in the same league. After making a positive start followed by a quick oscillatory session in the intraday trade, finally, nifty closed on modest positive note. Today Nifty witnessed a good recovery in the late afternoon session and closed on modest positive note. Level wise, closing above vital 5250 level will infuse more buying momentum among the investors. Though there is no clear breakout on any of the side, yet, henceforth, for most of the time bulls may be in ommand. Broader market witnessed a good comeback and owing to good maneuver in Large Cap, small cap and midcap, bulls outnumbered the bears, but with a slight margin. In today’s session, Nifty though closed on flat note, yet it managed to close above the vital 9, 14, 50 & 100 day’s SMA placed at 5271, 5204, 5044 & 5226. These levels may be the new supports in forthcoming sessions. In today’s session, VIX, the barometer of uncertainty, zoomed and closed at a little higher than average level of 23.43, indicating an average volatility in market in the forthcoming sessions. RSI (14) for the session was at 60.58 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 amidst higher volatility
NIFTY LEVEL
R1-5352
R2-5388
S1-5282
S2-5247
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