Today markets opened on a positive notes and showed high volatility throughout the day finally closed on flat note in red. After showing selling pressure for five consecutive days, Nifty made long leg Doji candlestick pattern which shows indecision among bulls and bears at current levels.
Nifty's short term trend is still down. Nifty has important support in 5,730-5,680 range, if Nifty hold support then short covering may be seen. If Nifty does not hold support levels then selling pressure till 5,600-5,550 may also be seen.
For Intraday Tomorrow, the trend deciding level is at 5,750. If Nifty shows strength above 5,750 levels, then rally to 5,780/5,810/5,850 levels may be seen. On the other side if Nifty fails to trade above this levels then selling pressure till 5,710/5,680/5,650 levels may also be seen.
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