Nifty settles up by 66 points - FINQUEST

Nifty after a gap-up opening witnessed a volatile session, whereby prices took support around 5786 on dips while on upmove encountered resistance around 5848, finally settling the session up by ~66 points at 5836.

Nifty respected the support of 5750-5760 (i.e. the gap 5749-5699/200 dema) and traded above the same forming a bullish candle. Going ahead resistance on upmove is seen around 5852, breach above which would enable Nifty to edge higher towards 5900. However failure to do so would invite consolidation move, whereby immediate support on any downmove are seen at 5785 followed by 5750 (i.e. gap support).

Nifty for the day has support at 5815, breach of which could drag index lower towards 5785-5750 levels. Towards upside 5852 would act as resistance, above which it could edge higher towards 5870-5900 levels.

Source : Equity Bulls

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