Nifty closes up 144.85 points - Indsec Securities & Finance

The Nifty closed the day positive up 144.85 (2.66%) points at 5592.95 from 5448.10 Wednesday, on the back of very good volumes. Major loser in Nifty were Sesa Goa (-4.34%), TCS (-3.79%) and Infosys (-3.47%) whereas major gainers were Axis Bank (+15.72%), SBIN (+9.63%) and ICICI Bank (+9.29%).

The volume in the cash market for both NSE and BSE put together was up 26.00% to Rs. 163.10 bn from Rs. 129.50 bn. The advance/decline ratio stood at 2.39:1 from 1.72:1 for stocks traded on NSE.

Nifty Hourly Chart opened positive on account of appreciating INR due to announcements made by new incoming RBI Governor. The market moved between 50.0% (5549) and 61.8% (5605) extension levels of swing High/Low 5581/5118. The market closed at day's high on back of very good volume. The RSI(14) remained flat at higher level of bearish band, which is likely to act as resistance going forward.

Nifty Daily Chart faced resistance at 78.6% (5604) extension of swing High/Low 6093/5477. The RSI(14) after bouncing back from the lower range of bullish band it closed marginally above 50.

Source : Equity Bulls

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