Major supports between 5329-5400 and Nifty slipped below 5400 today but narket require complete distribution patterns to sustain below 5400. Strong resistance between 5480-5604. Nifty traded within 5389-5447 yesterday with mixed trading patterns and technical positions are as follows:-
1- Minor support signals between 5405-5420
2- Selling between 5424-5442
Although Nifty closed near lowest of the day yesterday and selling at higher levels also but patterns are showing consolidation formations therefore sustaining beyond yesterday range(5389-5447) will be watched first for next moves confirmations and follow up buying and sustaining above 5447 is also possible in the coming sessions.
Strong supports below yesterday range and in the same manner strong resistances at higher levels therefore Indian markets will prepare for next moves within or near about yesterday range(5389-5447) and sustaining beyond this range will be next moves confirmations therefore will be watched first for next moves confirmations.