It was another good day for Indian Stock Markts. Both benchmark Index (Nifty and Sensex) opened moderately gap up and closed with smart gains. Positive cues from Europe and Asia spurred on the markets today. The Bulls got activated and pulled the indices to make the high for the day at 4965.80.
On Daily Nifty charts, we are observing that the momentum indicator RSI has reversed from its oversold zone. For next intraday trading session, 4908 is the immediate support for Nifty and if this is broken, next support may be seen at 4870-4845. On higher levels, 4985 may act as the immediate resistance for Nifty and any trades above these levels are likely to face stiff resistance at 5025-5050.
On Daily Nifty charts, we are observing that the momentum indicator RSI has reversed from its oversold zone. For next intraday trading session, 4908 is the immediate support for Nifty and if this is broken, next support may be seen at 4870-4845. On higher levels, 4985 may act as the immediate resistance for Nifty and any trades above these levels are likely to face stiff resistance at 5025-5050.
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