After facing heavy selling pressure in last few sessions today Nifty managed to hold its early trade gains. Nifty made gap up opening of 16 points at 5542 levels and positive sentiments drove the benchmark index towards the important resistance level of 5600. It mainly moved in the narrow range of 5545-5585 for the whole session. Finally, it managed to close at 5585.45 levels gaining 59.30 points or 1.07%.
On daily charts, we can see that the candlestick so formed is just below the trend line joining multiple tops (5605) which is now acting as resistance for the index , if it is able to sustain above these levels then some buying could be seen and it may head towards 5630-5660.Support for the index is seen at 5550-5520 levels.
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