The NIFTY opened the session on a positive note but the index remained flat throughout the day’s trade. The 5500—5470 levels were the narrow trading range for the NIFTY during yesterday’s session. The NIFTY finally closed the
session at the 5,473.10 levels with a nominal loss of 3 points.
The NIFTY traded the session on an extremely sedate and lethargic note, on the back of below average volumes. On the upside, the NIFTY has stiff resistance between the 5475—5550 levels. The medium term and short term moving averages placed between these levels will act as stiff resistance for the NIFTY. Sustenance above the 5400 levels
will see the NIFTY remain in a broad trading range of 5400—5550 levels for the upcoming sessions.
The recent lows witnessed around the 5350 levels will be the major support level for the NIFTY.
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