As envisaged in the last week post and earlier, Nifty did take a shot towards the 5301 mark in the last session of the week climbing up to 5286. The immediate support for the opening sessions should be around 5220 above which Nifty will continue to be in a consolidation mode with an upward bias. If 5301 is conclusively conquered albeit after a spurt of profit booking, then we a may see further uptrend towards the ultimate resistance of 5648. However, on the flip side, if Nifty doesn't hold the support of 5164 then we may be headed towards 5189 and then the final support of 4965 below which all the gains will be reversed.
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