Half Hourly Chart
Nifty continued to be under pressure. The gap area was missed by a point as Nifty made a high of 5649 today.This validates that the gap area of 5650-5660 is strong resistance.The 20 ema too is in this area at 5645.Till these levels are overcome a sustained upmove will be difficult.
The uptrendline from June lows is at 5593 and the lasat swing low too is at 5593 making it a strong support . 50 ema is at 5605.Till these supports are held the downmove will not gain momentum.
Levels to watch for further direction are 5650-5660 on the upside and 5605-5593 on the downside.
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