Yesterday, the National Stock Exchange (NSE) benchmark index NIFTY reversed gains in the second half of the trading session to close below its crucial support placed at 11,400 levels on Thursday. It made a bearish candle on the daily candlestick charts.
The index slipped below its 5-exponential moving average (EMA) placed at 11,401, but above 13-EMA placed at 11,349. For the momentum to continue to Friday, the index should stay above 11,366 and climb above 11,400 levels, suggest experts.
The NIFTY50 which opened at the level of 11,397.15 from its previous closing level of 11,435.10 and closed at 11,385.05. During the session, it touched an intraday high of 11,449.85.
the Taking cues from the domestic and global market, it is expected to see the positive sentiment in the today’s session.