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After flipping between positive and negative zones, the market today settled with a marginal rise up, After opening on a bullish note nifty remained under pressure in the first half of Thursday, Buying momentum in the second half recovered most of the earlier losses to close in the green.The sentiment on the market moved in tandem with the rupee’s movement on Thursday. A recovery in the Indian rupee, after it fell to a record low of 72.10/USD, helped the market end the day in green as well. The Nifty reclaimed 11,500-mark and ended above the threshold. The Nifty future has opened the day at 11547 made a high of 11603 and low of 11470 & finally closed the day 11546.
Nifty after correcting from 11800 to 11450, has taken the support of 11400 levels, from where a bounce can be expected up to 11600. The support for Friday is seen at 1111450 while resistance is seen at 11600. Bank Nifty, too, has corrected by 1250 points with banks like IndusInd & Yes Bank, for now, have taken the support of 200 DMA. Bank Nifty would have a range of 27300 -27600. The daily strength indicator RSI continue to remain in a negative zone whereas the momentum indicator Stochastic has turned bullish from an oversold zone which signals a possible consolidation or upward move in the coming session.
After flipping between positive and negative zones, the market today settled with a marginal rise up, After opening on a bullish note nifty remained under pressure in the first half of Thursday, Buying momentum in the second half recovered most of the earlier losses to close in the green.The sentiment on the market moved in tandem with the rupee’s movement on Thursday. A recovery in the Indian rupee, after it fell to a record low of 72.10/USD, helped the market end the day in green as well. The Nifty reclaimed 11,500-mark and ended above the threshold. The Nifty future has opened the day at 11547 made a high of 11603 and low of 11470 & finally closed the day 11546.
Nifty after correcting from 11800 to 11450, has taken the support of 11400 levels, from where a bounce can be expected up to 11600. The support for Friday is seen at 1111450 while resistance is seen at 11600. Bank Nifty, too, has corrected by 1250 points with banks like IndusInd & Yes Bank, for now, have taken the support of 200 DMA. Bank Nifty would have a range of 27300 -27600. The daily strength indicator RSI continue to remain in a negative zone whereas the momentum indicator Stochastic has turned bullish from an oversold zone which signals a possible consolidation or upward move in the coming session.
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Resistance: 11600, 11650, 11700
Support: 11450, 11400, 11350
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