Nifty: Resistance 5275/5315/5333/5355
Support 5255/5222/5205/5195-5165
Nifty after opening -ve, extended losses to hit fresh intraday lows in late trade due to weak global
cues. Today, Nifty may open with marginal gains. Immediate resistance pegged @ 5275. Nifty if sustains above this zone, it may rally towards 5300+ zone. Further, Nifty needs to cross & sustain 5315, to test 5333-5355 zone. On lower side, Nifty has good support @ 5255, sustaining below it, Nifty may see 5222-5205 zone. Till Nifty holds 5165 zone [closing basis], traders may use dips to take specific longs for bouncebacks. Below this zone, Nifty may dip further towards 5050-4950 zone in coming days.
Happy Trading.
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