Nifty closes up 10.45 points at 5932.95 - Indsec Securities & Finance

The S&P CNX Nifty closed the day positive up 10.45 (0.18%) points at 5932.95 from 5922.50 Tuesday, on back of good volume. Major loser in S&P CNX Nifty were Suzlon (-4.18%), DLF (-3.40%) and Reliance Infra (-3.35%) whereas major gainers were HCL Tech (+4.55%), Tata Motors (+2.06%) and HDFC (+1.82%).

The volume in the cash market for both NSE and BSE put together was up 9.00% to Rs. 130.30 bn from Rs. 119.40 bn Tuesday. The advance/decline ratio stood at 0.69:1 from 0.62:1 for stocks traded on NSE.

The S&P CNX Nifty on the hourly chart opened positive and moved up during the day to face resistance at 38.2% retracement levels. The RSI(14) on the hourly chart moved up to the upper range of bearish band only to face resistance at that level.

The S&P CNX Nifty on daily took support at 38.2% of the swing High/Low (6111/5548) retracement and face resistance at 27.2% of retracement. The RSI(14) on the daily chart has taken support at lower range of bullish band and closed above it.

Source : Equity Bulls

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