Nifty: Resistance 5255/5275/5315-5333/5355
Support 5222-5210/5175/5152/5111
Nifty performed exactly as per our expectation. Despite Global weakness, Nifty bounced from lower levels & went into green zone & remained there whole noon, though selling came in last hour & Nifty closed back in Red.
Today, Nifty is expected to open gap down with 35-40 pts, in line with Asian market. Immediate strong support @ 5222-5205 zone, if held, Nifty may try to stabilize. If Nifty trades below 5205, then a further slide towards 5165 zone can be seen. Overall, till Nifty holds 5151-5115 zone on lower side, positional longs creation can be seen in this dip. On upside, Nifty has resistance @ 5275, if sustains, can se 5315-5333 zone.
Trade with levels.
Happy Trading.
For any query, be online at our chatroom.
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