Nifty is getting weak by each passing day every day we see some loss each day.
On Tuesday Nifty closed forming green dragonfly doji which itself signifies confusion in the next session and we can see weakness or good gains.
In the absence of many positive news Nifty may drift lower even further.
Nifty has strong support at 5305 level.
Below this Nifty will find strong support at 5267 level.
It must be a turning point for Nifty and any closing below 5267 level may enforce more profit booking.
We advise traders to exit at higher levels and keep reducing longs as much as possible.
| Important Nifty Levels for | ||
|---|---|---|
Nifty Pivot | 5325 | |
| Support | ||
| 5305 | 5267 | 5243 |
| Resistance | ||
| 5346 | 5373 | 5398 |
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