MAJOR RESISTANCE LEVELS: 5889-5932-5958
MAJOR SUPPORT LEVELS : 5831-5803-5762
MIDDLE TERM TARGET : 5760-5790
Nifty showed a clear bearish trend on Thursday just as we predicted. Nifty lost 37 points and closed at 5851.50. Auto stocks showed a remarkable fall on Thursday.
Nifty ( closing ): 5851.50
Nifty is still bearish. But, long ( buying ) and short ( selling ) positions should be taken carefully as Indian markets may move at any direction today. Nevertheless, there is a little more probability goes towards a bearish market.
MACD shows positive trend. But, signal line is reached very closely. RSI indicates 'overbought' status and it reveals a bearish trend.
Global markets showed a negative closing yesterday except NIKKIE which increased 1.66%.
India VIX increased 0.20% and closed at 14.71.
GOOD LUCK.....................
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