As envisaged in our post yesterday, the Nifty didn't see any further weakness and bounced from 5636, a mere 6 points above our crucial support of 5630. The resistance of 5721 held the market. The outlook for today is continued consolidation with bullish bias. If it slips below 5689, it might test the support of 5668. If it holds the 5668 support then it might bounce back with immediate resistance at 5728 and then 5749.Otherwise all the profits of yesterday will be wiped out.
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