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Strong support seen at 5,550
A strong consolidation around 5,595 and a breakout thereafter failed to sustain above 5,650, as other time-frame traders turned sellers at the higher level. The Nifty July futures settled at 5,624, a 12-point premium to spot on account of intra-day short covering of 2.3 million shares. The trade summary matrix (TSM) data hints at sell-side bias in the first two TPO time periods of 30 minutes each and