As said nifty to hold above 5190 was very important and below 5170 it is very week and Europe market gave the red signal and as it was at the channel resistance nifty breaking all supports closed flat almost on weekly nifty closed below 5-13-26-100 Ema almost showing further downside and globle cues are week which could now retest previous low of 4980 and breaching the same could drift nifty to 4800 as shown in charts at channel support still strong support is at 5070 which can be taken out on gap down opening nifty has resistance at 5120 levels and a bounce from gap down opening is also possible or some sideway movement till 12:30 to take further cues from Europe opening so long should once again be avoided below 5145 levels .Also it seem that nifty had made lower high at 5215 levels.Fii are net sell while Dii net buyers also most active were CE 5200 and PE 5100 – 5200.
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