The Nifty which started on a positive note managed to build further momentum towards the closing of the trade and closed its crucial 100-days exponential moving average placed around 10,418 making a strong bullish candle on the daily charts.
The Index which opened at 10,408 rose to an intraday high of 10,499. It slipped marginally below 10,400 to hit its intraday low of 10,396 before closing 108 points higher at 10,491.
According to Pivot charts, the key support level is placed at 10,425.43, followed by 10,359.87. If the index starts to move higher, key resistance levels to watch out are 10,527.83 and 10,564.67.
The Nifty Bank closed at 25,302.5. Important Pivot level, which will act as crucial support for the index, is placed at 25,061.8, followed by 24,821.1. On the upside, key resistance levels are placed at 25,444.2, followed by 25,585.9.
The Nifty futures on the Singaporean stock exchange were trading higher by aroundÂ 51.5Â points at 10,556, aÂ rise of aroundÂ 0.49 percent. This indicates that the domestic market is likely to open on a positive note.