As long as Nifty trades above the immediate support of 5531, it will remain bullish with resistances at 5584, 5606 & 5670. Fresh longs will emerge only if it trades conclusively above 5721.
However, below 5531, the benchmark index will find support at 5516, 5498 & 5445.
Intraday traders may trade accordingly i.e. go long above 5531 & short below with stop loss at 5531 itself, as the case may be, & book profits at the resistances & supports.
Short- term traders may build short positions at higher levels with stop loss at 5725.
Mid-term investors may bid ITC at 310.05.
However, below 5531, the benchmark index will find support at 5516, 5498 & 5445.
Intraday traders may trade accordingly i.e. go long above 5531 & short below with stop loss at 5531 itself, as the case may be, & book profits at the resistances & supports.
Short- term traders may build short positions at higher levels with stop loss at 5725.
Mid-term investors may bid ITC at 310.05.
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