Market May Remain Bullish : Technical Views

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If we talk about today's market, it opened higher in the wake of positive global cues and gradually picked up the momentum in the later half of the session to close on strong note. Looking at the daily reports and Nifty chart prices have taken support on the 20 day EMA and formed a positive candle. This suggests that the undertone still remains bullish. In the coming trading session if indices trade convincingly above18,310 / 5,493 levels then it is likely to test 18,421 to 18,600 / 5,530 to 5,600 as resistance levels. On the downside, 18,130-18,040 / 5,430-5,400 levels may act as support for the day.

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