Nifty downward biased nature got more maturity below 5200 as discussed. Now looks like it can damage bulls sentiment going further. Sell on rise or hold the shorts are more wise thing to do, until some bigger support level is tested now.
Supports: 5110 is clearly big, very important from intra day as well as Eod basis. Below that another round of severe selling can bring 5050/40-5010 and the 4950/60 positionally.
Resistances: Loads of hurdles on the upside. 5160/75 will be a shorting area. Above that 5200-5225 is very important zone too. Positional Higher targets can only be give after some display of strength of given intermediate resistances.
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