The NIFTY opened the session on a flat note and the index gradually moved upwards as the session progressed. Smart gains amongst key index heavyweights like Reliance Ind, Tata steel, Cipla and Infosys propelled the NIFTY to an intraday high of 5570 levels. The NIFTY finally closed the session at the 5,556.15 levels with a smart gain of 24.10 points.
The NIFTY added on to the gains witnessed during the previous session of trade. We reiterate that, the 5450—5625 levels will be the broad trading range for the NIFTY, until it crosses the 5625 levels and registers a close above the same during the upcoming sessions.
The near term and short term moving average clusters placed between the 5500—5450 levels will act as good support for the NIFTY on the downside. The 5600—5625 levels would be the near term upside targets for the NIFTY, if it sustains above the 5500 levels.
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