Today Indian Stock Market opened on a negative note and showed selling pressure throughout the day. Nifty made low at 5,740.95 levels and closed in red at 5,762.85 levels with 141.75 points loss while Sensex made a low at 19159.52 and closed at 19224.12.
It was the fifth consecutive day in which markets closed in red. Nifty's short term trend is still down. Nifty has important support in 5,740-5,680 range, If Nifty hold support then short covering may be seen on the other hand if Nifty does not hold support levels then selling pressure till 5,600-5,550 may also be seen.
For Intraday Trading, the trend deciding level is at 5,750. If Nifty shows strength to trade above 5,750 levels, then it may move upside to 5,800/5,850/5,900 levels. On the downside if it fails to trade above this levels then selling pressure till 5,700/5,650/5,550 levels may also be seen.
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