29 July, 2014 14:10 IST
News
Nifty has immediate resistance at 5,720: CapitalVia
Source: IRIS (05-NOV-12)
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``The market is expected to be positive in the coming trading session. In the last week, Nifty bounced back smartly from strong level of 5,580 and took support from its 50 DMA and managed to close above 10 DMA which indicates the near term uptrend is intact. The Nifty gain hovers around its support mark of 5,580 and breaches it then some more selling pressure can be observed.``

“The immediate resistance is seen at the 5,720, if Nifty managed to sustain above 5,720 levels, then the rally can be seen further towards 5,800 level. On the downside, 5,580 would act as a strong support level for the markets. A breach of this level would increase pessimism and Nifty and may test 5,420 levels,” said CapitalVia Global Research, while commenting on market outlook.

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