AFTER MOVING IN A RANGE OF 5750-5900 NIFTY BROKE THE RANGE AND FINALLY CLOSED ABOVE 6000 LEVEL. AS PER OPTION CHAIN NIFTY HAS SUPPORT AT 5900 LEVEL AND IMMEDIATE RESISTANCE 6000 LEVEL. NIFTY WILL NOW BE TRADING IN MULTIPLE RESISTANCE ZONE. VIX CALMED DOWN FROM 20 LEVEL AND CLOSED AT 18.7 MARK. THE UNIQUE FEATURE OF THE RECENT RALLY IS THAT IT HAS NOT BEEN LED BY BANKING SECTOR. THE TREND OF THE MARKET IS UP WITH A VERY CHOOSY STOCKS. WE ARE BULLISH ON THE INDEX AS LONG AS 5940 IS NOT BREACHED ON CLOSING BASIS. ON UPPER SIDE IMMEDIATE RESISTANCE IS AROUND 6055 LEVEL.
AS OF NOW BULLS ARE HAVING UPPER HAND.
NIFTY DAILY CHART
NIFTY DAILY CHART WITH FIBO TOOL
NIFTY WEEKLY CHART.
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