With Nifty nearing a strong support region at 5185-5175, banking, auto and steel sectors showing signs of strength, Nifty closing today at 5214, mildly above its 20 EMA on EOD chart, it seems unlikely that it will break 5175 levels in the coming trade session.
The range for Nifty for the coming session should be 5255-5175. If manages to break 5175, it may test 5115.
However, with almost all frontline stocks hovering near their trendline supports, trading with a negative bias would be high risk, unless a breakdown. I would rather wait for a confirmation of further trend and prefer trading stocks.
Maruti, Bharti artl, Hero honda, Tisco look promising for the coming session.
Happy Trading !!
Disclaimer: The said technical analysis is a perception based on various charting methods. Trades on my opinion are to be done solely at your own discretion.
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