Nifty: Resistance 5115/5151/5170/5210
Support 5075/5050/5020-5005/4990
Nifty moved in line with our yesterday post. Nifty tried couple of times but failed to cross 5151 mark & slipped below 5100 mark, but held on to support zone of 5050. For today, Nifty maintains intra support @ 5050, if breaks & sustains below this zone, Nifty may see some more profit booking setting in towards 5020-5005 zone. Nifty will get good support @ 4990-5005 zone. If this zone is held, we may see some buying setting in for bounce back. On upside, intraday resistance marked @ 5115, if crosses some covering towards 5151 may be seen. Crossing 5151-5175 & sustaining above this zone, Nifty may see some more short covering towards 5253-5275 zone, [where this up move will be tested], else we may see profit booking setting in again, to keep Nifty in a range.
Trade with levels.
Happy Trading.
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