It was third consecutive good day for Indian Stock Markets. Positive cues from global markets took Indian markets to close green in most sectors. Today Nifty showed good strength and closed above 5,500 levels with positive market breadth. If Nifty manages to trade above 5,500 levels then buying interest till 5,570-5,610 may be seen in coming trading days, else below 5,440 profit booking may be seen.
On the daily chart, we are observing narrow range body formation which reflects indecisiveness prevailing at current levels. Hence, in coming trading session if indices trade above 18390 / 5530 levels then they are likely to test 18,430 - 18,550 / 5,570 - 5,600 levels. On the downside, 18,226 - 18,140 / 5,480 - 5,450 levels are support for the day.
On the daily chart, we are observing narrow range body formation which reflects indecisiveness prevailing at current levels. Hence, in coming trading session if indices trade above 18390 / 5530 levels then they are likely to test 18,430 - 18,550 / 5,570 - 5,600 levels. On the downside, 18,226 - 18,140 / 5,480 - 5,450 levels are support for the day.
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