Support for the Nifty is at 5282-520: Gaba

Nifty (5335) we said ‘so technically the market is up and the next logically target beyond 5385 is 5400-5435… the market is also looking stretched and so I would not rule out a reaction if it comes’ the market unfolded as expected opening in our target zone and reacted closing in the red near our support…technically still the market is up but in a reactionary mode and can slide down to around 5282-5201 and the upside limited to 5435

The support for the Nifty is at 5282-5201 and resistance at 5400-5435

Prakash Gaba is a professional technical analyst and a trader based in Mumbai and runs his own consultancy.

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