If the 5721 level is conquered conclusively today, then the Nifty may see a round of short-covering which will propel it towards the 5805 mark.
However, the key point for today is at 5645, above which the Nifty will remain bullish and below which it will be bearish.
The immediate support for Nifty is at 5612 failing which it will slide to 5601, 5522 and 5479.
On the other hand if it manages to stick its head above the 5645 mark with good volumes, then the immediate resistance is at 5721 and then at 5767 and 5805.
As of today the Nifty is in a bullish mode and intra-day traders may play on the long side with stop loss at 5612.
Short-term traders may wait and watch and exit short positions, if any, by booking loss at around 5730 and go long if it trades above 5805.
Mid-term investors may consider exiting HCL Tech by placing offer at 1076.10 and HDFC bank at 661.80.
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