After breaking the diagonal channel Nifty is now trading in a sideways trend with a resistance at 5,300 & 5,380 level and support at 5,230 & 5,170 level. Today Nifty Spot closed below 5,300 level after such a descent opening. A close above 5,300 level will bring confidence among the bulls. Till time it will be treated as one more consolidation day. Nifty July future closed with 12 point premium today. On an intraday basis, Nifty spot should find (PIVOT) support near 5,286 & 5,252 level while the resistance will be at 5,330 & 5,364 level.
- Support for Nifty is at 5,275-5,260 and resistance is at 5,320-5,335.
- The Sensex could find supports at 17,440 and 17,400 and resistances at 17,650 and 17,740.
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