The tipping point for the day is at 5549 with immediate resistance at 5557 and then 5587, 5619 and 5670 continue to be higher resistances, in case if Nifty holds above the 5557 mark.
On the flip side the immediate support is at 5530, 5516 and 5498. Target on the lower side is at 5444.
Our outlook for the market continues to be weak and it may slide further. Only a breakout above the 5670 can lift the morale of the bulls.
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