Range5223- 5085
>Nifty will face strong resistance ard.5150-5180 level .
>MACD indicator had a positive crossing and still trading the zero line mark, is indicating some feebleness. Now 5150-5180 would be the strong resistance level to watch early next week ; moreover the presence of 50 DMA .
> Abv. 5180 , hold long with Trg. 5200-5223 nif. spot
>>The Volatility Index (VIX) increased during the week and closed at 24.79%. If VIX increases from current level, then Nifty will see downsides. Volatility has a strong inverse correlation with markets.
>>The overall mood continues to be cautious with mixed trend. The Nifty is expected to remain in the range of 5,000- 5,180 and only a breach below or above this range will decide the next direction of the market. Going ahead may be choppy.
>>Investors will eye the first installment of the corporate advance tax payment data and monthly inflation data. The progress of the monsoon will also be keenly watched. However, global risk appetite holds key for Indian equities in near term.
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