Nifty: Resistance 5454/5495/5525/5555/5589
Support 5420/5401/5385/5353/5333
Nifty haulted the five-day winning streak on Friday and closed below the 5500 mark, dragged down by profit booking in oil & gas, ADAG stock, infrastructure, telecom, metal and shares of financial companies. We already cautioned about this fall on Friday & Nifty exactly corrected from 5589 levels. Today, nifty may open flat/-ve, with immediate resistance @ 5495, for any upside rally to continue, Nifty needs to cross & sustain 5525. On downside, Nifty has strong support @ 5420, which if held, may give hopes to Bulls, else below this levels, Nifty turns more weak for 5385-5333 range.
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