The Market has shown its volatility today. Today Sensex closed at 17,985.88 with -146.36 down points or -0.81% down. And the Nifty closed at 5,396.75 with -50.75 down points or down by -0.93%.
On the other side in the Derivatives Nifty Futures: it closed with -41.60 negative points and settle at 5,409.00 down by -0.76%. So over all market was bearish today and may start with same manner in next trading session.
After facing a huge bearish trend in last trading session Nifty is now showing its volatility and may posible that it will be down 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. 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 5350 as a strong support zone to work with and 5470 as a strong resistance zone to work with.It is looking bearish in the coming trading session if it manages to trade below the support level of 5350 else above the resistance level of 5470 it would be bullish trend.
RESISTANCE: It has first resistance close to the level of 5470 & above this level the next resistance is seen near the 5540 mark.
SUPPORT: It has first support close to the level of 5350 & below this level the next support is seen near 5320 mark.
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