during last three trading sessions Nifty manages to close above this level.
Even on 13th January this level was breached during the day but we have a closing near 5751.
Closing at strong support level generally leads to a volatile session the next day and it was also experienced on 11th January.
Although so much weakness after poor Infosys results will bring in some relief rally sooner or later and we may find some buying support on every fall towards 5700 level which proved to be strong support level for past few trading days.
The kind of chart formation Nifty is making hints at uncertain sessions ahead and it is very difficult to predict the future trends.
This might be another Black Friday today or we may end up having a strong short covering session which may give Nifty some healthy boost towards 5800-5835 range.
We advise traders to do some value buying on every fall towards 5700 or lower.
Nifty Pivot 5771
Support 5731-5700
Resistance 5782-5810
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