Nifty today made the strong up moves and made the close near to the level of 5500. Decisive closing above 5500 may lead it towards the levels of 5600 to 5610 in near run. The immediate intraday support for nifty future seems to be at the levels of 5440 to 5450. Decisive closing below this support zone may slip it till the lower levels of 5400, 5350 in near run.
For trading we have already recommended to buy on dips for the targets of 5500, 5550. Those who like to initiate new long in nifty future can do above 5500 for the target of 5600 with stop loss around 5460.
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Bank nifty is in strong up moves & in the free flowing zone. As per the present it is looking that still it may continue its up trend & may moves more from here. The next technical resistance in bank nifty future seems to be around the levels of 11500 to 11550. So one may go for buy on dips strategy in it until it close below 10500.
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