Nifty closes almost flat, post volatile session
Bhagyashree Vivarekar / 07 Jul 2017
After hitting a triple top Nifty has managed to closed flat to negative after a volatile session. 9700-9710 to act as a strong resistance while 9645-9640 to act as crucial support for the Nifty.
It was yet another volatile session for the Nifty after hitting a triple top in the previous session. After a flattish opening, Nifty retreated up to the level of 9642, which is near to its 23.6 per cent retracement level of the prior upward rally, and thereby it bounced back to close almost flat, driven majorly by pharma stocks and RIL.
On a weekly basis Nifty has managed to close on a positive note, gaining 1.5 per cent with 14-period RSI positive crossover, though in the overbought zone. However, Nifty witnessed just 73 per cent volumes of the prior week, which depicts lack of strength on the upside.
Going forward, Nifty has a crucial resistance at 9700-9710. Once it breaks this resistance level, followed by the resistance at 9750, Nifty can test the level of 9900 on the upside. However, weakness prevails in the market, and hence, if correction continues, we hold 9645-9640 as the immediate supports, followed by 9605-9575.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.