By closing below 5255 Nifty is still showing its weakness with first resistance at 5280. on 3rd, even though global markets showing some strength Nifty weakened continuously throughout the day. This is indicating a test of 5210-5190 area is a strong possibility. A sustained break below 5190 completely turns Nifty short/medium term to -ve. A sustained break and close above 5385 turns Nifty trend to +ve. Between these two points it is range bound and sell on rallies and buy on dips. Individual stocks outperform Nifty on either side, hence look for opportunities there!
Pick of the day for short: IRB Infra
Nifty Support levels: 5230, 5210, 5190
Nifty Resistance levels: 5255, 5280, 5310
Pick of the day for short: IRB Infra
Nifty Support levels: 5230, 5210, 5190
Nifty Resistance levels: 5255, 5280, 5310
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