Today Indian Stock Markets showed a volatile session and closed in green with moderate gain. On the basis of daily charts, we observe that the momentum indicator RSI is flat which may lead market to either flat or positive side.
For intraday trading tomorrow, 5,020 may act as the immediate support for Nifty and if this is broken on closing basis, next support may be seen at 4,975-4,930. On higher levels, 5,100 could be the immediate resistance for Nifty and any trades above these levels are likely to face stiff resistance at 5,135/5,180. Traders are suggested to trade with strict stop-loss and in small quantities.
You might also want to get Nifty Trading Strategy
For intraday trading tomorrow, 5,020 may act as the immediate support for Nifty and if this is broken on closing basis, next support may be seen at 4,975-4,930. On higher levels, 5,100 could be the immediate resistance for Nifty and any trades above these levels are likely to face stiff resistance at 5,135/5,180. Traders are suggested to trade with strict stop-loss and in small quantities.
You might also want to get Nifty Trading Strategy
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