Market seems to be in consolidation phase in the near-term. Nifty is likely to find support in the range of 5400-5350 levels and 5,575-5,650 levels may act as resistance for next trading sessions.
As selling pressure is intensifying we can see 5465-5430 levels as crucial support levels, while 5,550-5600 as strong resistance levels for the market on Monday. If Nifty breaks 5,550 with high volume than only we can see up-move towards 5,600, otherwise more correction can be seen in Nifty.
For intraday trading on Monday (06-June) if Nifty trades above 5535 levels then it is likely to test 5,570 - 5,600 levels. However, on the downside it may test 5,450 levels.
As selling pressure is intensifying we can see 5465-5430 levels as crucial support levels, while 5,550-5600 as strong resistance levels for the market on Monday. If Nifty breaks 5,550 with high volume than only we can see up-move towards 5,600, otherwise more correction can be seen in Nifty.
For intraday trading on Monday (06-June) if Nifty trades above 5535 levels then it is likely to test 5,570 - 5,600 levels. However, on the downside it may test 5,450 levels.
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