Nifty witnessed a sharp fall below the support level of 5,600 and closed below the middle Bollinger band of 5,585 and this level has become its immediate resistance. Above this level Nifty has resistance at 5615 and 5650 while the support may be seen at 5,540 and 5,500 levels.
For intraday trading tomorrow, trend deciding level is at 5,560. If Nifty shows strength above 5,560 levels, then rally to 5,585/5,615/5,650 levels may be seen. On the downside if Nifty trades below 5,540 levels then selling pressure till 5,500/5,450/5,400 may also be seen.
For intraday trading tomorrow, trend deciding level is at 5,560. If Nifty shows strength above 5,560 levels, then rally to 5,585/5,615/5,650 levels may be seen. On the downside if Nifty trades below 5,540 levels then selling pressure till 5,500/5,450/5,400 may also be seen.
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