MAJOR RESISTANCE LEVELS: 5966-5980-5991
MAJOR SUPPORT LEVELS : 5952-5939-5926
MIDDLE TERM TARGET : 5760-5790
Nifty opened with a negative gap and moved in a small range of 23 points. Besides, It got proper support at 5942-5952 levels. It was clearly predicted yesterday ( REF; NIFTY TODAY: EPISODE 216). Nifty closed with 30 points loss yesterday. Nevertheless, CEMENT STOCKS could attract the investors on Tuesday.
Nifty (closing): 5956.90
Nifty closed at a neutral zone last day. It can move either side. Most probably, Indian markets will move in a small range today too.
Nifty closed just above the Lower Bollinger Band level, 5952. MACD still indicates a strong bearish market, while, RSI and Stochastic show charts neutral trend. As usual, Moving Averages indicate a bullish market for long term.
Asian markets closed in red yesterday. But, European indices could gain last trading session. US markets are in positive zone right now. Brent Crude prices increased marginally more than 1%. Rupees could gain strength against Dollars on Tuesday.
India VIX closed at 14.61 with 1.88% gain.
GOOD LUCK........................
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