There was all out weakness, as predicted in our yesterday's post and the benchmark index did go down to the 4947.3 mark.
The tipping point for today is at 5974 and the immediate resistance is at 5985 and then 5998 and Nifty must trade consistently above these levels for another bullish spike, otherwise it might further weaken. The immediate support is at 5961 and then at 5956. If the crucial support of 5948 is breached then it will go down to 5918.
Our outlook for today is of continued weakness in the face of supply pressure.
The tipping point for today is at 5974 and the immediate resistance is at 5985 and then 5998 and Nifty must trade consistently above these levels for another bullish spike, otherwise it might further weaken. The immediate support is at 5961 and then at 5956. If the crucial support of 5948 is breached then it will go down to 5918.
Our outlook for today is of continued weakness in the face of supply pressure.
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