CHART-II
- Day high is violated.
- If sustains above 6027 nifty will target its 50 DMA or the next Fib level which is 61.8%.
- Price moving below 6027 will be negative.
CHART-I
- Nifty intraday chart is showing a range of 5986 to 6027
- An ideal trade would be to breakout on the upside to go along with the primary trend.
- Break of 5986 may get support near 5975 area. 5975 area acted as resistance which may act as support now. Break of 5975 area on closing basis will favor bears.
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