Today NIFTY and SENSEX shows their overall strength raised nearly 3% each. last day of the week make investors happy. Today Nifty crossed major resistance levels 5350 , 5380 and 5450.
We should wait and see till Monday afternoon whether this is holding rally. Short covering and fresh long positions in large caps lead markets to gain in this way.
If NIFTY holds positivly on Monday then short term Up trend is confirmed.
RESISTANCE: On Monday NIFTY may have first resistance close to the level of 5500 & above this level the next resistance is seen near the 5550 mark.
SUPPORT: On Monday NIFTY may have first support close to the level of 5450 & below this level the next support is seen near 5380 mark.
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