Nifty showed good strength today and managed to close above 5350 for the day. It has made star candlestick pattern on daily charts, which shows indecision at higher levels. Buying interest may be continuing above 5,380 levels. On The other hand, If Nifty doesn`t maintain above 5,380 levels then some profit booking may also be seen in coming trading trading sessions.
For intraday trading tomorrow, the trend deciding level is at 5,350 level. If Nifty shows strength above 5,350 levels, then rally to 5,380-5,425-5,470 may be seen. On the downside if Nifty does not show strength above 5,350 levels then selling pressure till 5,310-5,270-5,230 may also be seen.
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