If the freak trade of Friday and the consequent shutting down of Nifty is ignored, the Nifty did bounce from 5706.1 which was three points above our predicted support. For the Nifty to continue making new highs, it must trade consistently above 5748 mark. The support is at 5708 and then at 5640. The trend will reverse only if it dips below the 5640 mark.
The outlook for the next week continues to be consolidation with a bullish bias. The resistance is at 5808, 5869 and 5930.
The outlook for the next week continues to be consolidation with a bullish bias. The resistance is at 5808, 5869 and 5930.
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