Nifty Supports @ 5520-5410
Nifty Resistances @ 5720-5871
Last week in our Nifty technical analysis, we mentioned Trend is Bullish with major Hurdle @ 5550-5610. Nifty continued to move upward from 5471 to 5705 while crossing hurdle of 5550-5610 and closed at 5627. For Next Week, Trend is still Bullish but profit booking at higher level possible. Next Crucial resistances stands @ 5720-52. Above these levels, Nifty can move towards 5800-5871-5920. On Downside, Strong supports at 5520 - 5458 - 5410. As long as 5520 holds, Trend will be Bullish. Closing below 5458 trend will change into bearish again. Medium Term is Neutral. Long term is Bullish and we always mentioned to accumulate fundamentally strong scrip's in systematic way for 1-2 year time-frame as this was ongoing consolidation and corrective phase for long term.
" Trade with Levels not with Hope "
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