The markets were highly volatile today and both the benchmark indices closed in green with minor gains. Today NIFTY opened flat with a negative bias and made low of 5693.25 levels and then buyers pulled it towards the higher side which made Nifty to make a high of 5762.95. For the whole trading session, Nifty moved in the range of 5700-5750. Finally it made a close at 5740.75 levels with gain of 0.20%.
The Nifty made a small bodied white candle with almost equal upper and lower shadows indicating indecision in the market. So we need a confirmation for further movement. Nifty can test 5620 level in the coming days, also if it is able to sustain above 5700 level we can see nifty at 5800 level .
For Intraday tomorrow market is expected to open either flat or positive. Until, Nifty manages to trade above 5,750 levels, volatility may be seen in 5,650-5850 range. By tomorrow if indices trade above 19160 / 5750 levels then they are likely to test 19272-19360 / 5,800 - 5,850 levels. On the downside, 19,003 - 18,915 / 5,707 - 5,665 levels are support for the day. Any breach below 5745 level would intensify the selling pressure.
The Nifty made a small bodied white candle with almost equal upper and lower shadows indicating indecision in the market. So we need a confirmation for further movement. Nifty can test 5620 level in the coming days, also if it is able to sustain above 5700 level we can see nifty at 5800 level .
For Intraday tomorrow market is expected to open either flat or positive. Until, Nifty manages to trade above 5,750 levels, volatility may be seen in 5,650-5850 range. By tomorrow if indices trade above 19160 / 5750 levels then they are likely to test 19272-19360 / 5,800 - 5,850 levels. On the downside, 19,003 - 18,915 / 5,707 - 5,665 levels are support for the day. Any breach below 5745 level would intensify the selling pressure.
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