Nifty: Resistance 5131/5151-5165/5190/5215
Support 5090/5050/5005/4990
The market opened deep red in the morning trade and high volatility was witnessed in the mid-morning trade. However, it reversed direction and turned green to hit fresh intraday high in late trade after the Finance Minister said in parliament during mid-afternoon trade that the application of GAAR has been deferred by one year.
Today, Nifty may open flat inline with Asian market. Immediate resistance @ 5131, close & sustain above it, Nifty may continue its upmove towards 5165-5190+ zone. On lower side, Nifty has intra support @ 5090 & below it @ 5050, sustaining blw it, Nifty may head towards 5005-4990 zone. Overall, Nifty may remain rangebound in early trade & either side level break may show some technical trigger.
Trade with levels.
Happy Trading.
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