Nifty: Resistance 5420/5455/5490/5520
Support 5388/5355/5334/5315
Nifty opened firm +ve & kept adding marginal gains to it, but slipped from its high of 5450 zone to below 5400 zone & hit fresh intra lows in last hour. As written yesterday, Nifty remained & traded in the range of 5455-5380. Till either side range breaks, market may keep trading range bound, with stock specific moves. Today Nifty may open gap down with 25-30 pts in line with Asian market. Nifty break & sustain blw 5390-80 zone may see some more selling pressure towards 5350-5315. On higher side, Nifty is facing resistance @ 5450 zone & is not able to close above it. Till it doesn't, traders should avoid longs & may wait for small dip to re-enter.
Trade with levels.
Happy Trading.
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