Nifty made hammer candlestick pattern, which shows that Nifty is showing volatility for few days. Until, Nifty manages to decisively sustain above 5950 or below 5800 levels, volatility may be continuing. The market will take cues from the global markets and is expected to open on a flat to positive note tomorrow.
On the basis of daily charts and reports, we are observing that prices tested the 20day-SMA and sharply rebounded to close higher. This suggests high probability of continuation of the up move. On the upside, if indices trade above 19,620 / 5,890 levels then it is likely to test the prior swing high of 19,800 / 5,944 or even extend their gains to 19,990 / 6,000 levels in couple of trading session. On the downside, indices have support at 19,430 - 19,306 / 5,830 - 5,791 levels.
On the basis of daily charts and reports, we are observing that prices tested the 20day-SMA and sharply rebounded to close higher. This suggests high probability of continuation of the up move. On the upside, if indices trade above 19,620 / 5,890 levels then it is likely to test the prior swing high of 19,800 / 5,944 or even extend their gains to 19,990 / 6,000 levels in couple of trading session. On the downside, indices have support at 19,430 - 19,306 / 5,830 - 5,791 levels.
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