MAJOR RESISTANCE LEVELS: 5941-5974-6001
MAJOR SUPPORT LEVELS : 5895-5868-5835
Indian markets showed bearish trend yesterday. Nifty also lost 28 points at closing just as we predicted early (REF; NIFTY TODAY: EPISODE 241).
Nifty (closing): 5914.10
Nifty closed at Neutral zone on Monday. Both long and short positions should be taken very carefully today. Nifty may get proper Resistance at 5941-5955 level.
MACD indicates bearish trend, while, RSI and Stochastic show neutral trend. Besides, Moving Averages depicts neutral trend on long term basis. Upper Bollinger Band is at 6013 and Middle Bollinger Band at 5851.
Asian and European markets showed steady and mixed trend. US markets also depicts same trend right now. Brent Crude prices increased slightly. Rupees gained strength against Dollars.
India VIX closed at 15.13 with 6.18% increase.
GOOD LUCK......................
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