The NIFTY opened the session on a bearish note on the backof weak cues from its global peers.
The NIFTY spent theearly part of the day’s trade in the negative territory but started to recover from its day’s low as the sessionprogressed.
The NIFTY finally recovered all of its intraday losses by the end of the trading session and finally closed at the 5482.80 levels and remained unchanged as compared to the previous session.
The NIFTY once again bounced back from its support levels of 5450—5425 levels during esterday’s session.
But, we reiterate that a close below the 5425 levels would lead to extremely bearish outlook on the markets.
The 5300—5250 levels would be the downside targets on the NIFTY, if the index breaks below the 5425 levels.
On the other hand, the NIFTY would remain within the broad trading range of 5450—5600 levels if the NIFTY holds on to the support levels of 5450—5425 levels.
The near term andshort term moving average clusters placed between the 5520—5560 levels will act as stiff resistance for the NIFTY onthe upside.
We booked full profits on our intraday long call given NIFTY Spot @ 5478 levels. (Initiated @5451 levels).
Therecommendation fetched a fabulous intraday gain of Rs 13500/-(assuming 500 quantity traded) to the subscribers of ourproduct NIFTY calls section.
We recommend subscribing to our product NIFTY Calls section to avail such profitable NIFTY calls.
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