Indian markets opened with a sideways bias but failed to manage up-trend. Nifty found unable to break last day's high and broke 5,600 levels on downside, which shows BEARS are having control at the moment.
For coming trading sessions selling pressure may continue if Nifty trades below 5,550 levels. On the upside, recovery may only be seen if Nifty manages to trade above 5,600 levels.
For intraday trading tomorrow, trend deciding level is at 5,580-5,600. If Nifty shows strength above these levels, then rally to 5,650/5,680/5,710 levels may be seen. If Nifty does not show strength above 5,600 levels then selling pressure till 5,550/5,520/5,480 may also be seen.
For coming trading sessions selling pressure may continue if Nifty trades below 5,550 levels. On the upside, recovery may only be seen if Nifty manages to trade above 5,600 levels.
For intraday trading tomorrow, trend deciding level is at 5,580-5,600. If Nifty shows strength above these levels, then rally to 5,650/5,680/5,710 levels may be seen. If Nifty does not show strength above 5,600 levels then selling pressure till 5,550/5,520/5,480 may also be seen.
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