NIFTY OUTLOOK FOR TOMORROW
Nifty lost 143 points to 5,542, its lowest closing level since april. The index hit a low of 5,521 and a high of 5,664 in intraday trade.If in tomorrow’s trading the Nifty trades below the 5550-mark, This is the most important support zone—the index has been taking support close to this zone because it has ability to act as the floor—the buying appetite for stocks around this range is quite great hence you see the support....However, it has become quite vulnerable since despite it providing the floor the bulls are lacking fresh gumption to push the market higher. Keep it in mind that once this important support area gets decisively taken out, you will see the market would fall much further breaking quite a few important supports on the way down. We might well be headed for 5350 – 5400 kind of levels.
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RESISTANCE:5550 5580, 5650
SUPPORT :5540, 5500, 5450