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NIFTY
SUPPORT: 5324-5253-5137
RESISTANCE: 5512-5628-5699
On Friday the Nifty closed at 5380, almost at a significant support level, lower for the week, as well as lower for the day. TA Insync(55-5) continues its decline, now coming close to the minus 45 level which is an oversold area. But, in weak markets, the indicator can simply keep on getting more oversold. Thus, we should expect a relief rally, but we cannot say when this will come about. It is possible that there may be more declines in between now and a rally. Now is time to check patience and check will nifty find support at 5350 or heading towards 5140.
for today above 5390 nifty may show some bullishness and may run upto 5440-5500. below 5380 bears may drag it to 5350-5310.
