It was a cheerful trading day in which both the benchmark indices made significant gains. Market witnessed a gap up opening and upside momentum was seen till the end of the day to close near days high. On the daily chart, we are observing that prices after taking support at the 200-daySMA are now heading to test the downward sloping trend line joining the two significant highs of 20,664-21,108 / 6,181-6,338.
For intraday trading tomorrow, trend deciding level is at 5,850. If Nifty shows strength to trade above 5,850 levels, then rally to 5,900/5,950/6,000 levels may be seen. If Nifty does not show strength above 5,850 levels then profit booking till 5,780/5,725 may also be seen.
For intraday trading tomorrow, trend deciding level is at 5,850. If Nifty shows strength to trade above 5,850 levels, then rally to 5,900/5,950/6,000 levels may be seen. If Nifty does not show strength above 5,850 levels then profit booking till 5,780/5,725 may also be seen.
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