Monday 23 April 2018



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The Nifty which recouped most of its losses towards the close of the trade ended flat on Friday forming a ‘Doji’ type of candle for the second consecutive session in a row.

The index closed took support at its 5-days exponential moving average (DEMA) before bouncing back towards the opening levels. The index which opened at 10560 closed 1.2 points lower at 10564.

The Nifty index formed an indecisive pattern ‘Doji’ for the second consecutive session in a row and now a breakout above 10594 or a breakdown below 10509 will decide the direction for the markets.

India VIX fell down by 5.91 percent at 12.93. A decline in VIX suggests limited downside and a consolidative move in the market.

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