The market did manage to hold above our support on closing basis; it closed at 5857.9 a shade above the support indicated in yesterday's post and so it can be conclusively said that the bulls haven't given up yet. The tipping point for the day is at 5865 and if Nifty sticks its head above this mark then it must conquer the resistance 5873 to resume upward journey.
On the flip side the immediate support is at 5843 and the crucial support is at 5804.
Our outlook for the day is that there might be a little more consolidation and/or weakness or sideways movement before selling pressure patters out.
On the flip side the immediate support is at 5843 and the crucial support is at 5804.
Our outlook for the day is that there might be a little more consolidation and/or weakness or sideways movement before selling pressure patters out.
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