On the basis of daily technical chart, Nifty bounced after breaching the rising wedge price formation which indicates short term bearish trend in the market . The Nifty should face resistance near 5,450 & 5,485 level but it still indicates weakness in near term. A breakout above 5,450 only will be treated as the continuation of bearish view. Nifty spot below 5,400 should find support near 5,350 & 5,322 level.
On an intraday basis, Nifty spot should find support near 5,380 & 5,362 level while the resistance will be at 5,438 & 5,450 level.
The Sensex should find supports at 17,840 and 17,790 and resistances at 18,170 and 18,250.
Post a Comment