NIFTY (Last: 5216.30, up 23.45 points)
After five negative closes in a row, NIFTY managed to finish
the day in the positive territory. Despite the rise, the short term trending
picture is still under cloud as the Index is trading below its 2 weeks moving
average (5232) and RSI is just hanging above the 50 line. However, the Index is
maintaining the uptrend on medium and long term basis.
Today, we expect the Index to move higher and
challenge its five days old highs at 5267. We may see this uptrend extending to
5300 if NIFTY manages to fill the gap between 5267 and 5300 level (See the Trend Score Table below)
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