Both the Sensex and Nifty closed flat with a mild negative bias. The NSE Index has closed below 20dema at 5417 and 5dema at 5427. It is evident from the above chart that 5dema is fast approaching 20dema and if it closes below that, then, a signifcant correction is not ruled out in the coming days.

NIFTY SPOT 5414.15

SENSEX SPOT 18048.85

BANKNIFTY SPOT 10770.25

Trading levels for today

NIFTY

Buy Above/SL 5434/18112 Target 5449/18163
SAR/Sell Below 5422/18080 Target xxxx-xxxx/xxxxx--xxxxx
Sell Below/SL xxxx/xxxxx Target xxxx/xxxxx
SAR/Buy Above xxxx/xxxxx Target xxxxx--xxxx/xxxxx---xxxxx

BANK NIFTY

Buy Above/SL 10828 Target 10875
SAR/Sell Below 10798 Target xxxxx---xxxxx
Sell Below/SL xxxxx Target xxxxx
SAR/Buy Above xxxxx Target xxxxx---xxxxx