The immediate support for today is at 5442 above which Nifty must remain strong with resistances at 5485, 5523, 5592. At most it may go up to 5746 and until this resistance is conquered the benchmark index will remain bearish.
On the flip side if Nifty slides below 5442 with volumes then the supports are at 5411, 5390 & 5308.
Intraday traders may go long above 5442 & short below it with stop loss at 5442 either way and book profits around the specified resistances and supports as the case may be.
The short term traders may go short at higher levels around the specified resistances with stop loss at 5746.
Mid - term investors may accumulate Itc at around 295.05 & 282.65 in small quantities.
On the flip side if Nifty slides below 5442 with volumes then the supports are at 5411, 5390 & 5308.
Intraday traders may go long above 5442 & short below it with stop loss at 5442 either way and book profits around the specified resistances and supports as the case may be.
The short term traders may go short at higher levels around the specified resistances with stop loss at 5746.
Mid - term investors may accumulate Itc at around 295.05 & 282.65 in small quantities.
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