NIFTY TODAY
Today too nifty strongly resisted around 5330 levels and closed just above the second support 5245 level. Volume was not that much good. However FII’s buying was not bad. They had bought 579.29 crores. In addition DII’s had bought for 100 crores who were remained net sellers through out this month except for one or two days! Technically in the price chart a stopping pattern had formed. However nifty still remains above the 50 and 20 EMA I feel positive. May be profit booking had drifted nifty I think so. Still I am on bullish side.
NIFTY TOMORROW
still I do not expect a downtrend as FII’ s were net buyers and today DII’ s too joined the race. as for as tomorrow’s trade nifty would find good support at 5245 levels itself as it remains above the 50 and 20 EMA. Let’s see what happens tomorrow.
SUP: 5245, 5220. RES: 5288,5301,5327,5383.
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