Nifty is not making any decisive move for the past 6 trading sessions its moving between 5479-5605 with less volume , it needs some trigger to make a move on either side , one more thing to watch is Reliance if it makes a move above 965 then Nifty can cross 5600.
But the probability for Nifty is more on down side.
Levels for today
Support 5510 ,5494 ,5480 , 5450
Resistance 5542 , 5555 , 5568 , 5590
Short ONGC at 273 with stop loss of 276 for the target of 266
Short JSWSTEEL at 934 with stop loss of 945 for the target of 911 , 893
Stocks to watch Axisbank weak below 1217 , SBIN weak below 2272
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