NIFTY TAKE SUPPORT ON MAJOR TREND LINE, AFTER SOME CONSOLIDATION NIFTY FUT AT 5850 IT WILL HEADED HIGHER TILL 6100, IF FAIL TO MAINTAIN THIS MIDDLE TREND LINE NIFTY FUT MAY BE SLIDE TILL 5780-5750 WHICH ACT AS MAJOR SUPPORT ZONE FOR NIFTY.
Today nifty index has a stiff resistance at 5904. Once if it manages to cross 5904, it might reach 5919 and 5936 too. Above those levels, bulls may take nifty to 5950 and even 5964 levels. On the other side, below 5870 level, nifty may be dragged down to 5854 by bears. More action can be seen only below 5838. Once if nifty manages to cut 5838, it may touch 5823. Final support for bulls acting at 5809 level.
Nifty spot if manages to trade and sustain above 5920 then it is likely to show some recovery and if it breaks and trade below 5860 level then it is likely to show some profit booking. Please note this is just opening view and should not be considered as the view for the whole day. Important US data to be declared today: 1. Jobless Claims 2. Producers Price Index 3. Retail Sales 4. Bloomberg Consumer Comfort Index 5. Business Inventories
