Tuesday 29 august 2023. While Sensex gained over 77 points or 0.12% to close at 65,075, Nifty gained 0.19% or 37 points to close at 19,342. Nifty has been directionless for the past three trading sessions, floating in the narrow range. The 50-day EMA at 19300 is likely to act as support for Nifty, while the 20-day EMA at 19450 is likely to act as resistance. Violating the 19450-19300 range on either side could put the Nifty back on track. The Nifty small-cap and mid-cap indices have managed to consistently post new values on a closing basis. The breadth of the market is very strong, with more than 83% of NSE 500 stocks placing above their respective 200-day moving averages.
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