The Market has shown its volatility today. Today Sensex closed at 17,506.63 with -363.90 down points or -2.04% down. And the Nifty closed at 5,257.90 with -108.50 down points or down by -2.02%.
On the other side in the Derivatives Nifty Futures: it closed with -115.10 negative points and settle at 5,265.00 down by -2.14%. So over all market was bearish today and may start with same manner in next trading session.
After facing small bearish trend in last some trading sessions Nifty is continuously going down and giving result in red points, and may possible 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 5220 as a strong support zone to work with and 5350 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 5220 else above the resistance level of 5350 it would be bullish trend.
RESISTANCE: It has first resistance close to the level of 5350 & above this level the next resistance is seen near the 5420 mark.
SUPPORT: It has first support close to the level of 5220 & below this level the next support is seen near 5150 mark.
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