According to Pivot charts, the key support level is placed at 10,356.03, followed by 10,314.57

The Nifty, which started with a gap on the higher side in morning trade on Wednesday, failed to build momentum and closed below its crucial 100-days exponential moving average (DEMA), and 5-DEMA, making a ‘Hammer’ like pattern on the daily candlestick charts.

The index closed below its crucial short-term moving averages but a bounce back in the next trading session remains on the cards considering it is an expiry day. For bulls to gain momentum, Nifty has to close above 10600 levels, but a breach of 10,276 would put bears in driving seat.

According to Pivot charts, the key support level is placed at 10,356.03, followed by 10,314.57. If the index starts to move higher, key resistance levels to watch out are 10,432.53 and 10,467.57.

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