Nifty Daily Update Sept 05 2017

Market Sep 05

The market regained almost 75% of yesterday's fall closing about 40 points higher at 9952. 9952 is a key psychological level. The broad market indices all closed in green and so did all the sectoral indices except for Pharma which fell by 0.36%. The market breadth was positive with a 2:1 ratio of Advance versus declines. The market found strong support at 9900 levels and finally managed to break the 9950 levels in second half of the session.

The index closed above all key moving averages and RSI has turned bullish again. The India Vix fell by 2.11% indicating bullish activity in the options market.

The daily and hourly chart of Nifty is attached for your ready reference.


Range for Sep 6th


 Nifty Range 9918 to 9977. Support at 9850 and resistance at 10050.
Bank Nifty Range 24270 to 24575. Support at 24085 and resistance at 24691.

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This blog is for educational and awareness purpose only. The views are intended for discussion and exchange of views rather than an expert opinion. This is not an recommendation to buy or sell or invest in the stock market and derivatives market. Kindly exercise caution and perform your own due diligence before investing in the market, after fully and clearly understanding the risks involved.

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