The market witnessed a choppy session today and I expect the market may continue its downside phase in view of results. Nifty spot chart suggest that the market is trading in a sideways trend with 5,400 acting as a crucial supply level and 5,350 as a support zone. Nifty should face selling pressure below 5,400 level while downside support will be at 5,350 & 5,300 level. A breakout above 5,400 will negate the earlier possibility and could lead Nifty spot to 5,585 level. On an intraday basis, Nifty spot should find (PIVOT) support near 5,359 & 5,320 level while the resistance will be at 5,418 & 5,437 level.
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