Nifty Intraday Trend For Tomorrow 20-April

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Nifty managed to consolidate its gains today and ended at 5,332 with a gain of 32 points. Going forward as long as Nifty sustains above the level of 5,280 the upside momentum would remain intact. On the higher side we expect a test of 5,380 top 5,400 range. However in an alternate scenario, if Nifty breaches the support level of 5,280 then it should be taken as first sign of weakness. The level of 5,200 is now an absolute important support for next couple of weeks. For the upside to remain intact Nifty should continue to trade above 5,200.

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