Nifty Future has found support at 5483 levels. Breaking yesterday"s high Nifty will test the 5555 levels. Nifty has to close above 5538 level for bulls" to have any hope.

Supports – 5483 / 5462
Resistances – 5507 / 5527 / 5560

Bank Nifty future (Refer Chart - Bank Nifty)

The important level for Bank Nifty is 10900. If it trades below 10900, then it should be taken as an indication of weakness. The levels of 10810 are double bottom for Bank Nifty, breaking below this level will add more strength to bears in market.

Supports – 10743 / 10695
Resistances – 10890 / 10940

Intra day calls

Axis Bank
Buy above Rs 1302
Stop loss at Rs 1295
Target price of Rs 1320

Tata Motors
Buy at Rs 945
Stop loss at Rs 957
Target price of Rs 929

Rajesh V. Ravanappan is a practitioner of technical analysis. He has eight years of experience in the share broking industry. He is a contributing writer for www.www.goodreturns.in. You can contact him at [email protected]

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