Nifty: Resistance 5555-5565/5600/5615/5630/5668
Support 5525/5504/5495/5454-5444/5420
Nifty had a wonderful rally post budget wiping out recent loss.Auto, financial, infrastructure, oil & gas and metal sectors were on the buyers’ radar. Nifty just closed at the door steps of stiff resistance zone of 5555-5565. If today, Nifty is able to sustain above this levels, Nifty may try to breach 5600 levels as next target. (Nifty above 5565 [closing basis], bullish for more upside rally till 5700-5900 range.) On lower side, Nifty has good intraday support @ 5504, sustaining blw this level, Nifty turns weak for some more booking till 5454-5444 range.
Nifty may open gap down, keep eyes on immediate support @ 5454 area for bounce back.
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