Our support for yesterday held more or less and Nifty made a comeback.
The tipping point for today is at 5991 with 5997 as the immediate support and then at 5990 and 5980.
On the flip side, the immediate resistance is at 6013, 6030 and 6070.
Our outlook for today is that 6013 is the major hurdle for the Nifty to resume its up move. The market may open on a bullish note but volatility cannot be ruled out resulting on sudden drops. Short term traders are advised to add long positions in case of any weakness and book profit around the resistances. A breach of 5980 may see it go down to 5948 and 5918.
The tipping point for today is at 5991 with 5997 as the immediate support and then at 5990 and 5980.
On the flip side, the immediate resistance is at 6013, 6030 and 6070.
Our outlook for today is that 6013 is the major hurdle for the Nifty to resume its up move. The market may open on a bullish note but volatility cannot be ruled out resulting on sudden drops. Short term traders are advised to add long positions in case of any weakness and book profit around the resistances. A breach of 5980 may see it go down to 5948 and 5918.
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