Nifty settles up 22 points - FINQUEST

Nifty witnessed a gap-up opening and after minor turbulence surged to hit fresh intraday high at 5981, wherein prices encountered resistance. Index however failed to sustain and steadily drifted lower to mark an intraday low at 5913, finally settling up by ~22 point at 5928.

Nifty traded weak through the day thus forming a bearish candle witnessing close near days low. Going ahead sustenance above 5910-5920 would enable Nifty to edge higher towards 5970 and further towards 6000-6020. However failure to hold above 5910 could drag index lower whereby support on downside is at 5800 level.

Nifty for the day has support at 5910, breach of which could drag index lower towards 5860-5820 levels. Towards upside 5950 would act as resistance, above which it could edge higher towards 5970-6020 levels.

Holding above 5910-5920 would enable Nifty to maintain its upward momentum.

Source : Equity Bulls

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