............MARKET UPDATE..............

Level wise, closing nifty above the threshold 5320 and sensex above the 17450 levels may extend some support to bulls in the forthcoming sessions.  broader market witnessed positive sentiments and all the large cap, midcap and small cap segments were closed positive for the second continuous session. despite the positive and strong closing, nifty closed below its 9, 14 sma placed at 5319.55 and 5370.16, however it is closed well above its vital 50, 100 and 200 day’s sma placed at 5163.23, 5056.68 & 5163.62. these levels will act as support and resistance in the forthcoming sessions.  though, vix, the barometer of uncertainty, corrected and closed at 25.47 which indicate some average volatility in market in the forthcoming sessions. rsi (14) for the session was at 51.8766 levels and macd closed below the signal line. market may continue to witness range bound with positive bias in forthcoming sessions.