A great recovery from the down fall of starting of this week even after the end of the month contract, today Sensex closed at 18,240.68 with +513.19 up points or 2.89% up. And the Nifty closed at 5,471.25 with +151.25 up points or up by 2.84%.
On the other side in the Derivatives Nifty Futures: it closed with +167.80 negative points and settle at 5,484.00 up by 3.16%. So over all market was bullish today except the BSE and may start with same manner in next trading session.
After facing huge bearish trend in last some trading sessions Nifty is now going to recover from that and continuously next day it has given result in green points, and may possible that it will be up in next trading session.
As the Market showing ups and downs in last some trading sessions, It is not a right time to make a long term position. Trade in Intraday positions. We recommend that trade in small profit and trade in Intraday positions and if you get 30-50 points up that will be right time to put out your self from the market.
In Nifty technically the market is in a typically sideways zone with 5360 as a strong support zone to work with and 5590 as a strong resistance zone to work with.It is looking bullish in the coming trading session if it manages to trade above the Resistance level of 5590 else below the Support level of 5360 it would be down trend.
RESISTANCE: It has first resistance close to the level of 5590 & above this level the next resistance is seen near the 5680 mark.
SUPPORT: It has first support close to the level of 5360 & below this level the next support is seen near 5250 mark.
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