It was a cheerful day for Indian Stock Markets, as market closed with significant gains today. Both benchmark indices (Nifty and Sensex) witnessed a pullback rally on account of positive global cues.
On Nifty charts, we can see that the momentum oscillators RSI has changed direction, now are northbound. For intraday trading session, Nifty is likely to find support levels at 4932-4900-4865. On higher levels, 5010 may act as the immediate resistance level for Nifty and any gains above this level is likely to face stiff resistance at 5050-5090. F&O expiry is scheduled in this this week, so volatility will remain high and traders are advised to trade with cautions.
On Nifty charts, we can see that the momentum oscillators RSI has changed direction, now are northbound. For intraday trading session, Nifty is likely to find support levels at 4932-4900-4865. On higher levels, 5010 may act as the immediate resistance level for Nifty and any gains above this level is likely to face stiff resistance at 5050-5090. F&O expiry is scheduled in this this week, so volatility will remain high and traders are advised to trade with cautions.
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