NIFTY TODAY

Nifty had a gap up opening and faded today itself. 5180 was a good support. Volume was not encouraging. FII’s were net buyers for 359.75 crores. From the beginning of March FII’s remained net buyers. FII’s had bought for 11472-odd crores. Technically, still nifty stays above 50 day EMA. 5300 levels would be a strong resistance for up move. As FII’s were accumulating in a big way we may expect a breakout on either side. To my knowledge only above 5300 levels we can go long. Crucial levels to watch are 5180 and 5300.

Thanks for visiting!