NIFTY closes up 99.60 points at 6083.15 - Indsec Securities & Finance

The S&P CNX Nifty closed the day positive up 99.60 (1.66%) points at 6083.15 from 5983.55 Friday, on the back of low volumes. The rollover in Nifty was at 20.00% and stocks at 29.00% to the next month. Major loser in S&P CNX Nifty were Cipla (-1.71%), M&M (-1.67%) and Maruti (-1.56%) whereas major gainers were Indusind Bank (+6.24%), Reliance Inds (+5.32%) and Sun Pharma (+4.63%).

The volume in the cash market for both NSE and BSE put together was down 13.00% to Rs/ 110.80 bn from Rs. 126.95 bn Friday. The advance/decline ratio stood at 1.68:1 from 1.21:1 for stocks traded on NSE.

S&P CNX Nifty on the hourly chart after completing AB=CD pattern moved up, and face resistance at 27.2% for extension of AB swing. The RSI(14) face resistance at upper range of bearish band and closed below it.

S&P CNX Nifty on the daily chart took support at 38.2% retracement level of swing High/Low 6229/5477 and closed above it. The RSI(14) took support at 50 levels and moved up.

Source : Equity Bulls

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