Heavy sink was witnessed in Indian Stock Markets. Both benchmark indices (Nifty and Sensex) lost more than 2% as Nifty made 52-week intraday low of 4932.15. Nifty opened today at 5077.95 up 20 points from the previous close at 5056.60. It traded in the red for the entire session and finally closed at 4944.15 or 2.22% down.
On Daily charts, we are observing that the momentum indicator RSI is outbound. For the coming trading session, 4900 may act as the immediate support level for Nifty and if this is broken, next support is seen at 4860-4800. On the upside, 4995 is the immediate resistance for Nifty and any gains above this level may lead it to 5050-5100 levels.
On Daily charts, we are observing that the momentum indicator RSI is outbound. For the coming trading session, 4900 may act as the immediate support level for Nifty and if this is broken, next support is seen at 4860-4800. On the upside, 4995 is the immediate resistance for Nifty and any gains above this level may lead it to 5050-5100 levels.
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