Nifty Watch:- The Nifty opened 25 point lower at 5260. The Index made a low at 5213, and then moved up to 5260 and down to 5210. Again nifty moved up to 5285 and fell, finally closed at 5224. The movements are given to give you a picture of the lack of direction that prevailed today. Overall it’s a choppy market with a narrow range of 75 points. This narrow range suggests another big move is coming.
Level:- Looking for support at 5130 and resistance comes at 5400. The support is relevant only if prices actually stabilise at these levels. So investors should wait and watch for base building.
Investors should hold on to their cash. Wait for the decline to end, and, a strong base building process to start. That will give a buying opportunity in the market.
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