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The Nifty is likely to remain in a narrow range for the next few trading sessions with immediate support seen around 10,000-10,100 levels whereas 10,400-10,500 will act as a major hurdleThe Nifty50 snapped its four-day losing streak and closed 30 points higher at 10,124.35 on Tuesday ahead of two-day US Federal Reserve meeting beginning later in the day.
The index opened with negative bias but managed to close with marginal gains of 0.30 percent. During the day, Nifty went higher till 10,155.65 but gave up the gains as it took resistance of its 200-DMA placed around 10,166 mark.
The Relative Strength Index – RSI on the Daily Chart is at 36.01; is in neutral to negative zone with no divergence against the price and MACD is continuously sustaining below zero line with a negative cross.
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