Nifty: Resistance 5151/5165/5181/5225
Support 5115/5090/5075/5065-5050/5030/5007
As expected Nifty had a very volatile session & corrected from higher resistance zone & bounced exactly from our support as mentioned yesterday. As written yesterday, closing below 5050, will confirm short term correction phase. As of now Nifty is in broad range of 4800-5200 & break of either of them will confirm further major movement. Intraday expect Nifty to open flat/-ve & it will try to test support of 5115 & if broken, Nifty may slide further to 5090-5065 zone.
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