Nifty (spot) strong above 5650
Nifty (spot) weak below 5630
Nifty (spot) Support 5610/5585
Nifty (spot) Resistance 5670/5690
Nifty has managed to cross the resistance of 5610/5625 and set higher target of 5750/5800 which may be achieved within few days. But the journey from 5625 to 5800 may not be so easy because Nifty has rises by more than 450 points in last few trading sessions without any corrective decline. On the otherside, Nifty has number of negative divergences on the chart which make us alert because any negative trigger may cause a sharp downward to 5510/5475/5445 in coming days.
But for positional traders Nifty will be said to be weak
only if it is not able to hold the support of 5450.
AmbujaCem, Bhartiartl, Herohonda, M&M, Ranbaxy, Siemens, Wipro, Biocon should be watched carefully.
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