After making spinning top candlestick pattern on daily charts and reports, nifty showed selling pressure from resistance at 6,000 levels with lower volumes, which shows bears are trying to take control from higher levels. However, bulls managed to protect 5,950 area. Nifty's short term trend is up and higher prices may be seen if Nifty manages to show strength above 6,050 levels. If Nifty does not show strength above 5,950 levels the downward correction may be continuing. For daily purpose, trend deciding level is 5,950. If Nifty shows strength above 5,950 levels, then rally to 6,000/6,035-6,050 levels may be seen. If Nifty does not show strength above 5,950 levels then selling pressure till 5,900/5,850 levels may also be seen.
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