After consolidating for 2 days, Nifty again upward rallied and closed above 5,950 levels with decent volumes. Nifty is accelerating upward momentum and profit booking may be seen any time from higher levels 6,000-6,050. However, Nifty's short term trend along with intraday trend is up. It is not advisable to make fresh long delivery positions from current levels.
For intraday tomorrow, Nifty trend deciding level is 5,980. If Nifty shows strength above 5,980 levels, then rally to 6,025/6,050 levels may be seen. If Nifty does not show strength above 5,980 levels then selling pressure till 5,940/5,900/5,850 levels may also be seen.
For intraday tomorrow, Nifty trend deciding level is 5,980. If Nifty shows strength above 5,980 levels, then rally to 6,025/6,050 levels may be seen. If Nifty does not show strength above 5,980 levels then selling pressure till 5,940/5,900/5,850 levels may also be seen.
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