Nifty: Resistance 5525/5555/5585/5615
Support 5500-5495/5455/5418/5385
Nifty along with global market witnessed selling pressure over the issue of raising US debt ceiling. Indian market opened gap down & remained sluggish for whole day & closed at day's low point below 5500 mark. Technology shares witnessed a hard hit as Rupee touched a 35-month high. Today, again we may see some gap down opening of 10-15 pts in line with Asian market. Nifty sustaining below 5500 [closing basis] has chances to shed some more weight & may test support zone of 5418-5385 in coming session. Nifty may see some support @ 5450 in middle. On the contrary, above 5525 [closing basis] we may see some bounce back to come in, before fresh selling.
Weekend bounce not ruled out if holds support zone.
Trade with levels.
Happy Trading.
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