Nifty momentum turned positive with strong closing.Nifty opened with a gap up, added to the gains further and momentum truned positive. Closing was some 916 points higher from Friday's closing.
24370 is a major support now, cab=n be uses as trend deciding pivot.
24950, 25040, 25080, 25250 immediate resistance levels,
24700, 24590, 24450 and 24370 are major support levels.
Pls refer to chart text for reading on indicators.
Standarddevation
Nifty -Some recovery was seen in momentum towards end of sessionNegative momentum continued, Nifty opened with a gap down and continued within the range of first 54 min candle. Closing was some 100 points higher than the day's low.
23947 is a major support now, and as Nifty looks a bit oversold, this may act as a medium term support.
24120, 24165, 24240, 24360, 24410, 24460 immediate resistance levels.
23950, 23900, 23860 remain immediate support levels.
Once it exceeds 24240 and sustains, stability or up-move can be seen.
Refer to the charts text for detailed reading of Indicators.