The NIFTY opened on a tentative note and traded in a narrow range for most part of the day.The NIFTY recorded a low of 5557.20, before picking up strong momentum towards the end of the day.The nifty finally closed at 5613.55, after recording a high of 5627.
With Today’s movement the index has closed above the resistance level of 5600.Going forward the index is likely to head towards the levels of 5660 / 5700 /5740 in the coming trading sessions,if it sustains above the 5600 levels.
On the downside the index has immediate support at 5560 -5540 levels followed by the 5495- 5480 levels.A close below 5480 would be negative and trigger further declines to the level of 5430 / 5380 levels.
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