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The Nifty index began the week on a flat note and couldn’t sustain above the 10000 mark and closed at 9988.75 with a marginal gain of 9.05 points.
On a daily chart, the index opened on a positive note but faced a strong resistance of 61.8% Fibonacci Retracement level, placed at 9991.24 and has ended the session with a doji candlestick.
However, the index has been trading above the 20 days exponential moving average from last two sessions which is a positive sign.
A daily momentum indicator RSI reading is at 53.66 level, trending above the average line which points out for a positive breath in the index.
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