MAJOR RESISTANCE LEVELS: 5893-5914-5943
MAJOR SUPPORT LEVELS : 5855-5823-5805
MIDDLE TERM TARGET : 5760-5790
Nifty closed with increase 28 points on Friday. Market showed a moderate bullish trend on its last session. We had predicted that Nifty may move at any direction ( upward or downward ), though it is bearish ( Ref: NIFTY TODAY: EPISODE 181 ).
Nifty ( closing ): 5879.60
Nifty got a correction on Friday, though it was a small one. It is strong bearish now. Long ( buying ) positions are not safe for the intraday traders on Monday.
MACD line striked on signal line. Thus, MACD lost its bullish trend. Next, RSI stands still at 'overbought' region ( bearish indication ).
Global markets showed a mixed trend at closing on Friday. India VIX closed at 14.23 with 3.26% hike.
GOOD LUCK.......................
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