As discussed on last post, nifty bounced from 5200 (low made 5202), marked as immediate support. Now immediate range of 5200-5265 will get played out.
Supports: 5200 remains the same. Below that 5160-5110 -5050 is possible positionally.
Resistances: 5265/70 is crucial from intra perspective. Above that intra sentiment can turn bullish from 5305-5320/25 zone. Above that 5400-5440/60 possible.
Nifty still in sideways to downward bias. Use strict s/l for longs and book near crucial resistances discussed as long 5325 is not being taken out convincingly.
This 5200 support on closing basis??
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welcome back dude!
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