Nifty Chart

Position : Nil [yesterday booked]

Nifty Trade Support 5976-5967 Resistance 6022-6026
Nifty Trend Support 5946-5940 Resistance 6057-6062

Analysis :
Both Daily and hourly zones are positive for indices.  Bounce back will
be possible from the supportive range.  So wait and watch to enter long
Still there is no change in the trend, only retracement bounce back will be
used to exit longs.

Support Range from various technical parameters
1. 61.8% of 6342-5700 is  @ 5946
2. Lower Lows Trend Line @ 5967
3. Elliott Wave Target Line @ 5900 [So, Supportive Range 5950-5900]

Resistance Range from various technical parameters
50.0% of 6342-5700 is @ 6022
23.6% of 5118-6342 is @ 6053 [So, Resistance Range 6010-6060]

Closing basis Support 5870 Resistance 6100

Short holders may cover around the supportive range.

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