Nifty (spot) strong above 5550
Nifty (spot) weak below 5530
Nifty (spot) Support 5505/5470
Nifty (spot) Resistance 5570/5595
At present Nifty is struggling to move past important resistance of 5575/5610 which would give fresh life to it and making it capable to move up more towards 5700/5770/5800 in coming days/weeks.
After 5580 (NS)
However Nifty appears to be losing its momentum at this stage after its sharp rise in last few days. Multiple negative divergences are there in various oscillator charts which may bring Nifty down to 5475/5440/5395 in coming sessions. On the other hand a decisive close below 5380 can put Nifty in bearish pattern once again……….
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