The markets could not make any clear direction throughout the day and closed in red with moderate losses. Nifty is still trading in 5,480-5,615 range, until Nifty manages to show strength above 5,615 or below 5,380 levels, volatility and range bound scenario may be continuing. Traders should be cautious within this range.
For intraday trading tomorrow if indices trade convincingly above 18,500 / 5,550 levels then it is likely to test 18,630 - 18,800 / 5,585 - 5,610 levels. Any daily close above 18,630 / 5,550 would confirm a higher top higher bottom on the daily chart and we may witness an accelerated move. On the downside 18,225 -18,120 / 5,470 - 5,430 may act as a support for the day.
For intraday trading tomorrow if indices trade convincingly above 18,500 / 5,550 levels then it is likely to test 18,630 - 18,800 / 5,585 - 5,610 levels. Any daily close above 18,630 / 5,550 would confirm a higher top higher bottom on the daily chart and we may witness an accelerated move. On the downside 18,225 -18,120 / 5,470 - 5,430 may act as a support for the day.
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