It was sluggish trading session in Indian Stock Markets. Both indices traded choppy and closed in red with moderate loss.
On daily charts, we can see that Nifty is again consolidating in a range and may face resistance at the down sloping trend line. For Nifty Intraday trading immediate resistance is seen at 5675-5725 levels whereas the major resistance is seen around 5750 level. As, Nifty is consolidating in the band of 5605-5705 so if it breaks 5605 decisively than some selling pressure may be seen and in that case the support level may be seen at 5560-5528.
On daily charts, we can see that Nifty is again consolidating in a range and may face resistance at the down sloping trend line. For Nifty Intraday trading immediate resistance is seen at 5675-5725 levels whereas the major resistance is seen around 5750 level. As, Nifty is consolidating in the band of 5605-5705 so if it breaks 5605 decisively than some selling pressure may be seen and in that case the support level may be seen at 5560-5528.
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