The Nifty is precariously poised around the tipping point which is at 5628. The immediate support is at 5585. A slip below this with good volumes may see it testing the critical support of 5516.
On the flip side, the immediate resistance is at 5640 and 5662. In order to be bullish the Nifty will have to conquer the critical resistance which is at 5711.
Our outlook for today is that the market may weaken further before an intermediate bottom is made.
On the flip side, the immediate resistance is at 5640 and 5662. In order to be bullish the Nifty will have to conquer the critical resistance which is at 5711.
Our outlook for today is that the market may weaken further before an intermediate bottom is made.
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