Nifty witnessed a firm but Volatile session and closed with significant gains besides gaining the vital 4850 level.
* Level wise, closing above the vital 4850 levels may depict strength of the recovery in the forthcoming sessions.
* Broader market witnessed buying across the segments and midcap, small cap and Large Cap were strong. Owing to this, bulls outnumbered the bears with significant margin.
* In line to ongoing trend, Nifty overcame 9 day’s SMA placed at 4832 but closed below its vital 14, 50 & 100 day’s SMA placed at 4956, 5031 & 5160.
* VIX, the barometer of uncertainty, corrected but closed at a higher than average level of 26.82, indicating a more than average volatility in market in the forthcoming sessions.
* RSI (14) for the session was at 41.82 levels and MACD closed above the signal line.
Market may continue to witness some range bound movements in forthcoming session amidst higher volatility
NIFTY LEVEL
R1-4904
R2-4970
S1-4814
S2-4760
BUY TATAMOTORS FUTURE ABOVE 182 TGT- 184 & 186 SL – 181.70
BUY COAL INDIA ABOVE 327 TGT- 332 & 337 SL 323
