If the close of the Nifty is not above 5400-5545 in the coming days, and if it turns negative from the current levels, this could be proved as a cautious mode.
The momentum seems to be tapering off and if the indices fail to cross the recent high then it will be taken as continuation of lower top and lower bottom formation. So the close of the Nifty above 5545 will prove that the markets are good, till that time be cautious and trade with strict STOP LOSS.
Nifty support is at 5200-5176. Resistance at 5400-5545
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