Nifty: Resistance 5444-5455/5495/5525/5555
Support 5420/5385/5355/5337
Nifty in line with Global markets witnessed gap down below crucial levels of 5400. Tough Nifty recovered some points in noon session & remained in a range of 5400-5430 for the maximum time of day. Today, we may have marginal gap up with 5-10 pts & we may again see some selling pressure in initial trading time near resistance zone of 5420. 5385 will again offer a crucial support to Nifty. Closing below 5385 will make Nifty weak for more selling pressure in coming sessions, & may slide towards 5300 levels & lower. On upside, immediate resistance 5435, sustaining above this, nifty may try hit 5455, if nifty went pass above this zone too , it can show some more bounce back towards 5495-5525 zone. But this bounce back should be exit opportunity for leveraged longs.
Trade with levels.
Happy Trading.
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