As shown on the charts above , Nifty 50 and Nifty midcap 100 indices are again bounced from their strong support and oversold zones . After another attempt on lower side yesterday the good thing is that the Market sustained on higher side and ultimately closed in green today.
As I discussed in my recent posts , indices are going nowhere and consolidating in a narrow range at lower levels.
In Today’s session we saw a bounce but the question remains the same that whether it is a sustainable bounce? – The answer is we should wait for some time for more healthy bounce . Today the Markets closed in green, but we need some more confirmation on the indices .
As per technical analysis both the indices are still in oversold territory .
Global uncertainties still persists and Trump and Putin meeting ahead in this week, so market participants should be cautious for this week.
Lgta hai sustain kr lega 3,4 din.
Hmm