The index made a bullish candle which looked like a ‘Hanging Man’ kind of pattern. The Nifty, which opened at 10,838.30, jumped to hit an intraday high of 10,860.35, before closing 80.20 points higher at 10,852.90.
India VIX fell 0.68 percent to 12.36 levels. VIX has been falling down from last five trading sessions and lower volatility indicates bullish stance of market till it remains below 13.50 zones.
According to Pivot charts, the key support level is placed at 10,819.97, followed by 10,787.03. If the index starts moving upwards, key resistance levels to watch out are 10,873.07 and 10,893.23.
The Nifty Bank index closed at 26,753.3. The important Pivot level, which will act as crucial support for the index, is placed at 26,649.53, followed by 26,545.77.
On the upside, key resistance levels are placed at 26,819.13, followed by 26,884.96.
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Disclaimer:-The views and investment tips expressed by investment experts are their own. Ripples Advisory advises users to check with certified experts before taking any investment decisions.
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