Today markets opened higher in the wake of positive global cues and traded in a narrow range to close in green. Afternoon trade saw some kind of a dip but the market managed to pull back soon after. However, the Nifty failed to hold 6200.
On the basis of daily charts and nifty reports we are observing that the prices have managed to close above the shorter term moving average (5-day EMA) which suggests continuation of the up move in coming trading session. On the upside if indices manage to trade convincingly above the high of the shooting star, 20,707 / 6,222 then it can test 20,830 / 6,260 levels or even extend their gains to all time high of 21,207 / 6,357 level in next couple of sessions. On the downside, 20,391- 20,290 / 6,124 - 6,094 may act as support for the day.
On the basis of daily charts and nifty reports we are observing that the prices have managed to close above the shorter term moving average (5-day EMA) which suggests continuation of the up move in coming trading session. On the upside if indices manage to trade convincingly above the high of the shooting star, 20,707 / 6,222 then it can test 20,830 / 6,260 levels or even extend their gains to all time high of 21,207 / 6,357 level in next couple of sessions. On the downside, 20,391- 20,290 / 6,124 - 6,094 may act as support for the day.
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