Nifty is looking strong on charts and is likely to continue its bullish trend.But as it is moving towards its strong resistance band of 5175 just be cautious.
If Nifty manages to stay above 5117 level, it would be in a positive trend for targets of 5141-5157-5175 levels. Major supports for nifty are at 5055-5035.
Nifty showing confirmations of entering into the new trading zone of 5200 levels by giving a close above 5036 levels today but don't be in a hurry and jump.
Just reminding you again 5175 is a major hurdle.Trade with levels only. Bears will take the charge only below 5035. Buy on dips makes more sense and that should be the strategy rather then buying at higher levels.
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