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Bajaj Capital / 10:07 Oct 09,2018
Nifty has opened in red and it slipped more than 100 points in first hour of trade but it has recovered all losses and closed with 33 points positive at 10350. It was very high volatile session throughout the day. Technically it has reached in the oversold zone as it slipped more than 1400 points recent high. The daily RSI has also reached in oversold zone it is at 21.5-mark. On down side it has also an immediate support in between 10220 and 10100.
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Technically, there is very much probability toit may witness for bounce back from aforesaid support zone as it bounced too.In this case if it happens then it may move towards 10660-mak where it may facean immediate resistance. The trend is likely to resume on upside only if itgives 2 consecutive closing above 10660-mark. Overall the market is in beargrip.  More...
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