Nifty: Resistance 5385/5420/5455/5495
Support 5350/5330/5300/5275
Nifty opened & traded in -ve zone for 1st half session, before it turned ahead & closed @ its intraday high levels of 5390. Nifty sustaining above 5380, may test 5420-5450 zone technically now. Traders may start to book profit around this zone & start trailing SL. On lower side, till Nifty is holding is its immediate support zone of 5350-5330 zone, it may bounce back from dips. On higher side, nifty may see supply pressure @ 5420-50 zone. Sustaining above it, nifty may head towards 5500 zone. Today, IIP nos, may decide some trend for upcoming sessions. Ahead of IIP data, Nifty may remain in range.
Trade with levels.
Happy Trading.
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