Nifty: Resistance 5888/5905/5945/5959/5995
Support 5859/5840/5816/5777/5737
Nifty witnessed some covering from lower levels after better-than-expected October industrial production were announced on the last trading session of a rather painful week. October IIP recorded a double-digit growth at 10.8% compared with 4.4% on a month-on-month basis. April-October IIP is at 10.3% against 6.9% year-on-year.
Today, expect flat opening. Immediate resistance @ 5888... if this level is sustained, then, nifty may extend its gain to 5945 range. On lower side, support pegged @ 5859-5840 range, which if breaks & sustains , nifty may again start it downward journey, with lower support seen @ 5777.
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