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Nifty ends flat on profit booking

By Religare
|

Indian indices ended the volatile session flat to negative, amid profit booking in index heavy weight stocks. Nifty future contract expiring on 28th May 2015 fell 0.07 percent or 6.00pts to close at 8366.80, with premium of 1.15points and open interest decreased by 0.15 percent.

On daily charts, Nifty has made a high wave candle with long shadows on both sides, indicating indecision among the market participants. Further, the index has manages to close above the range of 310 points (8360-8050) for the second consecutive session reflecting positive bias. So, traders are advised to use every correction to build long position in the market. The positive slope in strength indicator RSI and momentum oscillator Stochastic are above their respective reference lines indicating build up bullish sentiments.

Story first published: Tuesday, May 19, 2015, 23:00 [IST]
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