Nifty The index opened on a flat note and saw an intra-day dip towards 5126 in afternoon trade, after which it saw a rise towards the close. It ended the day with loss of 2 points.
Inside Day On the daily bar chart the Nifty posted an "Inside Day", i.e., today's price range is totally within the prior day's price range. Today's price range was a high of 5233 and low of 5126, while yesterday's price range was a high of 5261 and low of 5034. This may result in range-bound trading with high intra-day volatility.
Support & Resistance The index has intra-day support around 5127, lower support is at 5034. Resistance is around 5232 with higher resistance around the 5261-5300 levels.
Conclusion Expect intra-day strength above 5232.
Inside Day On the daily bar chart the Nifty posted an "Inside Day", i.e., today's price range is totally within the prior day's price range. Today's price range was a high of 5233 and low of 5126, while yesterday's price range was a high of 5261 and low of 5034. This may result in range-bound trading with high intra-day volatility.
Support & Resistance The index has intra-day support around 5127, lower support is at 5034. Resistance is around 5232 with higher resistance around the 5261-5300 levels.
Conclusion Expect intra-day strength above 5232.
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