Nifty: Resistance 5555/5575/5618/5633
Support 5485/5456-5445/5420/5385/5351
Nifty had an awful week. Last hour buying helped nifty to close above 5500. Today, expect gap down opening with 50-60 pts on Nifty. Immediate support range @ 5445-5456. Nifty may take a support @ 5420-5320 zone, which is very important. On upside, Nifty will face resistance @ 5555... till Nifty is able to close above 5633 [2-3 sessions], Nifty is in sell mode on rise.
On daily charts, Nifty is highly oversold & sharp recovery from lower levels, is not ruled out.
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