Nifty continue the up trend in last week & in the end made the good closing. At Last trading sassion it closed at 5,544.75 with +58.60 or (1.07%).

The market has not displayed any signs of strength so far.looks like 5443 is under threat now’ the market unfolded very volatile. First weak and then bouncing back and then selling off towards the end and closing flat for the week.

Technically the market is in a typically sideways zone with 5500 as a strong support zone to work with and 5635 as a strong resistance zone to work with the support for the Nifty is at 5500 and resistance at 5635.

If Nifty trades below 5550 levels for the first half-an-hour of trade then it may correct up to 5506-5471 levels.


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