Technically, after exhibiting an average session yesterday, today, Nifty displayed firmness and resurrected the ongoing momentum. After initial gap up though, indices witnessed some consolidation but ultimately closed with gains. Level wise, closing above the threshold 5460 levels, may support the bulls in the forthcoming sessions. Broader market witnessed mixed sentiments. On account of this, bulls lost the control of the market, because of which market breadth closed in red.Nifty maintained its supremacy and closed above its coveted 9, 14, and 50,100 and 200 day’s SMA placed at 5336, 5536, 5207, 5066 and 5164. VIX, the barometer of uncertainty, corrected and closed at 24+ levels, thus it indicates optimum volatility in the forthcoming sessions.
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