MAJOR RESISTANCE LEVELS: 5923-5957-6008
MAJOR SUPPORT LEVELS : 5848-5793-5763
MIDDLE TERM TARGET : 5760-5790
Nifty increased 0.66% on Tuesday. Though we have predicted a bearish market, we gave INTRADAY TIP to buy Nifty Futures and it achieved our third target ( profit: 85 points ) yesterday.
Nifty ( closing ): 5896.80
Nifty is still bearish. Long ( buying ) positions should be taken very carefully today.
MACD shows bearish trend after a long interval. RSI still indicates 'overbought' status which predicts a bearish market. But, Bollinger Middle Band increased to the level, 5810.
World markets were bullish last session of the trade except Straits Times and Hang Seng which were down by 0.06% and 0.08% respectively. Rupees closed steadily. Brent Crude price increased.
India VIX closed at 14.44 with 3.22% decrease.
GOOD LUCK.................
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