MAJOR RESISTANCE LEVELS: 5889-5920-5969
MAJOR SUPPORT LEVELS : 5822-5776-5742
MIDDLE TERM TARGET : 5904-5934
Indian markets were steady till noon. Nifty showed a steep hike afternoon and it closed with the gain of 45 points.
Nifty (closing): 5863.30
Nifty closed at neutral zone yesterday. Though there is a little inclination for a bearish market, positions should be taken carefully.
MACD turned from bearish to neutral level after a long period ( about a month). When RSI indicates neutral trend, Stochastic depicts a clear bullish market. Nifty has broken Middle Bollinger Band yesterday and closed above the level, 5846. Upper Bollinger Band is at 5999 and Lower Bollinger Band at 5690.
European and US markets closed in slightly positive zone last day. Asian markets are in mixed trend right now. Brent Crude prices decreased and Rupees got mild strength against Dollars.
India VIX closed at 13.07 with 2.46% decrease.
GOOD LUCK.........................
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