Today Nifty technically broke the major vital support level of 5380 & 5420 and closed below these levels. The psychological level of 18000 in Sensex also gave up. Nifty also closed fair below the vital resistance levels of 9 and 14 SMA placed at 5478.25, 5478 .42. Nifty is trading below the 50, 100 and 200 days SMA which are placed at 5533, 5777 and 5677 respectively and these levels will be acting as the resistance in the coming session. VIX closed at 25.89% which is higher when compared to last trading session’s value of 25.26%, thus indicating less volatility in market in the forthcoming sessions. RSI (14) for the day was at 43.24 levels and MACD was above the signal line, thus combined together they are giving the signals that market may witness ranged movement in the coming session.
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