Market and Nifty Technical View

Market Breadth : 5.8.

Short term trend of Nifty has turned up now.

Nifty is stuck in the rang of 5350 – 5460. you can see the range in the Nifty chart.

Intermediate trend of Nifty is up.

Nifty support Levels are : 5350, 5300, 5280, 5250, 5180.

Nifty Resistance Levels are : 5460, 5530, 5650, 5690.

Reliance Industries Ltd. Is in an intermediate downtrend and simply not participating in any upmove by market now lets see if it holds the famous 1000 – 900 level or not .

Failure to hold that level by RIL may create panic in Market.