The market has completely been direction less for the past few sessions and waiting for some trigger to get direction on either side - i.e. 5400 on the downside while 5600 on the upside. For the coming trading session, IIP data could be a major trigger for the market direction.
In the Daily chart, Nifty has formed an indecisive Candlestick with higher upper and lower shadow. For intraday tomorrow 5500 level may act as a strong support for Nifty. Resistance for Nifty is seen at 5,550/5,570 and Support for the day is seen at 5,500/5,480.
In the Daily chart, Nifty has formed an indecisive Candlestick with higher upper and lower shadow. For intraday tomorrow 5500 level may act as a strong support for Nifty. Resistance for Nifty is seen at 5,550/5,570 and Support for the day is seen at 5,500/5,480.
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