Nifty tanked to close at 5505. A big fall in this year. So today the first resistance for nifty is at 5543-47 level. Next resistance ranges are at 5581-86,5623-28,5645-50,5690-95,5718-23,5738-43 levels. On downside first support is at 5466-63 level. Next supports are at 5447-43,5425-20,5405-00,5365-60,5323-18,5295-90,5260-55,5232-27,5195-90,5153-47,5130-25,5108-05 level.Nifty had fallen is this a trend change signal? So far nifty had not changed the trend but if nifty is below 5400 it is not a good sign and might nifty will change the trend direction below that level.So today if nifty moves below 5460 be alert and stay away from longs and on upside we expect the pressures at 5547 and 5586 and longs are encouraged only if nifty stays strogly above 5550 level.
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