Nifty made a high of 5852 and closed near its high at 5842.20 and just close to it we have previous swing high of 5863. If Nifty, has to turn weak than in that case it will face resistance near this level, and which can be decided once Nifty opens. If opens below 5840 than we have to see whether Nifty manage to move higher or not. After such sharp jump, expectation of similar move is little irrational, as long as Nifty is holding above 5750 level, there is all possibility that Nifty will stay with positive bias. Below 5750, Nifty can move to cover the gap towards 5700 level, and which can drag prices further lower. So today the first resistance for nifty is at 5890-900 level. Next resistance ranges are at 5914-18,5938-42,5957-60,5992-96,6017-22,6061-65,6090-95 levels. On downside first support is at 5794-90 level. Next supports are at 5770-66,5746-42,5728-25,5695-90,5666-61,5622-18,5590-85,5569-65,5536-32,5518-14,5497-92,5477-74,5445-41 level.The trend is still weak but a move above 5914 can make the trend to shift to bull side.For short term 5890-5915 will be the resistance zone.So today on upside resistance are at 5900,5920 and 5940 level and on down side if below 5790 be very alert and avoid longs.
Positional Support for NIFTY 5830 5810 5750 5730 and positional Resistance for NIFTY is 5865 5861 5950 5930
Intraday Resistance of NIFTY are 5890 5938 6017 5957 5973
Intraday Support of NIFTY are 5794 5746 5666 5728 5712
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