MAJOR RESISTANCE LEVELS: 5915-5942-5963
MAJOR SUPPORT LEVELS : 5882-5858-5835
MIDDLE TERM TARGET : 5760-5790
Nifty closed steadily yesterday after some mild up and down moves. It is on the way to our Middle Term Target.
Nifty ( closing ): 5897.85 ( 0.10% )
Nifty closed at neutral zone yesterday. A positive opening can be expected today. After that, it may move any direction. So, positions should be taken carefully.
Though Nifty has broken Lower Bollinger Band level ( 5905 ) many times last trading day, It could not close above this level. MACD still indicates strong bearish trend. RSI shows 'oversold' status ( bullish ) and Stochastic shows neutral trend. Moving Averages depicts bullish trend on long term basis.
Global indices closed steadily on Monday. NIKKEI is 2.38% up right now. It may give a positive starting to Asian markets. Brent Crude prices increased slightly.
ONGC reported a Q3 net profit down 17.5%. Government expressed the consent to pay Rs. 25000 Cr as additional cash subsidy for Oil Companies.
India VIX closed at 15.65 with 3.23% increase.
GOOD LUCK..........................
No comments:
Post a Comment