The NIFTY opened the session with a positive gap and registered an intraday high of 5679.65 levels. The NIFTY witnessed profit booking from the higher level which led it to decline to an intraday low of 5633.10 levels. The NIFTY eventually closed at 5650.50 levels with a gain of 23 points.
For the last two trading session index is witnessing profit booking near to the declining trend line resistance placed at the 5700-5720 levels. Going forward there is a possibility that the nifty might get a bit tentative or into some kind of consolidation in the range of 5700-5720 on the up side and 5500 on the downside before moving up further. The immediate supports for the index are placed at levels of 5600 /5560 /5515.
A close above 5720 levels would see the index gaining momentum on the upside and could test the levels of 5850 /5900.
For the last two trading session index is witnessing profit booking near to the declining trend line resistance placed at the 5700-5720 levels. Going forward there is a possibility that the nifty might get a bit tentative or into some kind of consolidation in the range of 5700-5720 on the up side and 5500 on the downside before moving up further. The immediate supports for the index are placed at levels of 5600 /5560 /5515.
A close above 5720 levels would see the index gaining momentum on the upside and could test the levels of 5850 /5900.
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