For the fifth consecutive day Nifty has been unable to close above 5,600 level. On the charts, Nifty is consolidating in a range of 5,540-5,600 since last four trading sessions and is also exhibiting lower highs.
For next trading session if Nifty decisively trades below 5540 level then we can see more selling pressure and 5500-5467 levels may act as support for the day. On the upside if Nifty manages to trade above 5580 then rally to 5610-5642 can be seen and these levels may act as resistance for the day whereas 5675 is a major resistance for Nifty.
For next trading session if Nifty decisively trades below 5540 level then we can see more selling pressure and 5500-5467 levels may act as support for the day. On the upside if Nifty manages to trade above 5580 then rally to 5610-5642 can be seen and these levels may act as resistance for the day whereas 5675 is a major resistance for Nifty.
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