Nifty closed slightly down at 5316. So today the first resistance for nifty is at 5339-44 level. Next resistance ranges are at 5362-66,5400-05,5449-54,5468-72 levels. On downside first support is at 5297-92 level. Next supports are at 5276-72,5258-54,5225-20,5201-97,5168-63,5148-45, 5120-15,5092-88,5074-71,5054-49,5035-32,5014-09,4984-79,4958-53,4917-12,4894-90,4867-62,4845-40,4815-10,4795-91,4768-65,4750-45,4700-95,4680-75 level.So today the main hurdle on upside are at 5344,5366 and 5405 level and on downside if nifty is below 5272 be alert and better stay away from long side. Have a look at weekly trend.
Positional Support for NIFTY 5222 5185 5177 5119 5089 5074 5046 5036 and positional Immediate resistance for NIFTY is 5345.
Oscillator AnalysisThe oscillator is showing BUY signal but be cautious on NIFTY since NIFTY is trading in overbought level.Short Term Oscillator Analysis- and NIFTY in oversold region.
Positional Support for NIFTY 5222 5185 5177 5119 5089 5074 5046 5036 and positional Immediate resistance for NIFTY is 5345.
Oscillator AnalysisThe oscillator is showing BUY signal but be cautious on NIFTY since NIFTY is trading in overbought level.Short Term Oscillator Analysis- and NIFTY in oversold region.
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