Nifty Daily Update Sept 7 2017 (With Bollinger Band)

Market Sept 7th

Nifty moved in a narrow range losing initial gains in the morning session. The broadbased indices were all green and the sectoral indices were also positive with Metals and Auto sectors being top two gainers while FMCG was the loser. Media ended in red with a minor fall. The market width was slightly positive with Advances slightly out numbering declines.

Technically the Nifty ended above all key EMAs indicating bullish bias. The India Vix also indicated bullish activity in the options market.

The Daily Chart of Nifty with Bollinger band indicates that the market is likely to trade flat as the Bollinger band has started narrowing in the last three days.

The Nifty range for Sept 8th is 9911 to  9961 with support at 9891 and resistance at 9990.
The Bank Nifty range for Sept 8th is 24189 to 24440 with support at 24079 and resistance at 24550



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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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