#NIFTY View on the 12th of April.

Looking at yesterday’s move we were expecting some more upward move today as well. However supply dominated early in the session to take the index to 9160 level. However demand stepped in soon to take the index higher and eventually close in the middle of the bar. The volume was below average and lower than yesterday’s. Clearly the positive bias still remains. 9220 remains a tough nut to crack. If another attempt at 9220 is not made tomorrow we can expect some more sideways move before the index seeks higher levels.