Nifty (spot) strong above 5630
Nifty (spot) weak below 5610
Nifty (spot) Support 5595/5575
Nifty (spot) Resistance 5645/5675
Nifty entered highly overbought zones after rising sharply by nearly 550+ points in last few sessions and was ripe for corrective decline for 5650, 5610, 5550, 5490 in near future. It has already achieved the targets of 5650 and 5610 and now much depends upon the fact that support 5610 is held. Failure to hold the support of 5610 may initiate further decline to 5550 and 5490 in coming days. Nifty will turn bullish only if it manages to close above 5650 for 2 consecutive days.
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