Indian markets witnessed selling pressure for the second consecutive day. Nifty has given a break down at 5550 level in intraday and closed below it which suggests market trend is bearish for coming trading sessions.
Selling pressure may continue if Bulls unable to protect 5,550 level, decisively the selling pressure may be continuing. For intraday tomorrow, Trend deciding level is at 5,550. If Nifty shows strength above this level, then rally to 5,580/5,620/5,650 levels may be seen. On the downside if Nifty does not show strength above 5,550 levels then selling pressure till 5,500/5,450/5,400 may also be seen.
Selling pressure may continue if Bulls unable to protect 5,550 level, decisively the selling pressure may be continuing. For intraday tomorrow, Trend deciding level is at 5,550. If Nifty shows strength above this level, then rally to 5,580/5,620/5,650 levels may be seen. On the downside if Nifty does not show strength above 5,550 levels then selling pressure till 5,500/5,450/5,400 may also be seen.
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