NIFTY IS FINDING RESISTANCE AROUND 5900 MARK AND IS UNABLE TO CROSS 5910 LEVEL ON A CLOSING BASIS. HOWEVER IT IS SUCCESSFULLY HOLDING ABOVE 5830 LEVEL WHICH IS QUITE A POSITIVE SIGN. ON A WEEKLY BASIS NIFTY BREACHED 5600 LEVEL BUT MANAGED TO CLOSE ABOVE THE SAME DURING RECENT PAST. LAST WEEK IT FORMED A BULLISH ENGULFING PATTERN ON A WEEKLY CHART AND THIS WEEK TOO IT MANAGED TO GIVE CLOSE ABOVE 5830. SO THE SHORT TERM PICTURE FAVORS THE BULL AS LONG AS NIFTY IS HOLDING 5750 LEVEL. CONSECUTIVE DAILY CLOSE ABOVE 5910 PLUS WEEKLY CLOSE ABOVE 5977 MAY LEAD THE INDEX TO MOVE 6104 LEVEL.
SUPPORT 5815-5750
RESISTANCE 5910-5977
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