MAJOR RESISTANCE LEVELS: 5915-5947-5969
MAJOR SUPPORT LEVELS : 5871-5846-5817
MIDDLE TERM TARGET : 5760-5790
Nifty closed in red on Wednesday just as we predicted ( Ref: NIFTY TODAY: EPISODE 178 ). Indian markets restricted in a small range of movements ( 51 points ) last trading session. Motor sector showed a positive trend yesterday. M & M, BAJAJAUTO and HEROMOTOCO were the top Nifty gainers yesterday.
Nifty ( closing ): 5888
Nifty is still bearish and short ( selling ) positions may be advised for intraday traders today.
Though MACD depicts bullish trend, it's strength has been narrowed after trading session on Wednesday. In addition, RSI indicates 'overbought' status. Next, Middle Bollinger Band touched on our middle term target level ( 5765 ).
All the global markets closed in green in the closing except Indian markets. World markets are waiting for US's fiscal policy. European markets performed well based on good data from Germany.
India VIX closed at 14.51 with 0.14% decrease.
GOOD LUCK..................
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