The NIFTY opened the session on a positive note and registered an intraday high of 5645.40 levels. The NIFTY witnessed selling pressure from the higher level which led it to decline to an intraday low of 5555 levels. The Nifty eventually closed at 5567 levels with a loss of 46 points.
The index today witnessed selling pressure once it failed to sustain above the 5600 levels. However the index has managed to close above the immediate support level placed at 5550-5540 levels. In case the nifty trades below these levels, then it could decline to the levels of 5495 – 5480, below which the selling pressure could accentuate to levels of 5430-5400.
In case the nifty manages to hold on to support levels of 5550-5540 expect a rebound to levels of 5600 /5650 over the next few days.
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