Nifty: Resistance 5210/5222/5255/5275
Support 5190/5165/5151/5115
Nifty future opened gap down and traded in the range of 40 points throughout the day in same zone. Banking stocks faced pressure, after RBI guidelines to implement BASEL III capital rules. Today again Nifty may open gap down with 20-25 pts. Immediate good support @ 5165-5180 zone. We may see some support taking place @ this level & a bounce back is possible. If nifty breaches this support too, it may slide towards 5150-5131 zone. Below 5131 [closing basis] nifty trend gets more weaker.
On up side, immediate resistance pegged 5210-5222, if crosses, Nifty may move towards further resistance zone @ 5250-5275 .& above it , Nifty may head towards 5300+ zone.
Voltas looks good for accumulation in dips.
Trade with levels.
Happy Trading.
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