All the technical parameters and charts suggest a clean breakout in Nifty and if Nifty continues to hold above 5310 level, a bullish trend towards 5648 with immediate resistance at 5375 and then at 5420 is indicated. On the flip side, the immediate support is at 5275 and in case of a round of profit booking, it must go down to 5240. However, below 5185,which should act as a stop loss, all the recent gains will be reversed and fresh shorts will be built up, but chances of it going down to that level are remote.
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