Today Indian stock markets opened lower and traded with negative bias throughout the day which led the indices to close in red. On the basis of daily reports and charts we are witnessing that prices have tested the 20-day SMA and have managed to close above it.
For next intraday trading session if indices trade above 18,435/ 5,520 then they are likely to test 18,625- 18,740 / 5,555 - 5,590 levels. On the downside 18,260 / 5,465 levels remains crucial. Any breach of this level during the day, would result in loss of momentum on the upside and indices may slide to 18,120 - 17,960 / 5,420 - 5,380 levels.
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