Daily Technical Analysis

Nifty — The index opened on a negative note and tested lows around 5477 in morning trade, after which it recovered through the trading session. It ended the day with a loss of 46 points.

Resistance & Support — The index faces resistance around 5737 (was a support level earlier; now on role reversal will act as resistance). Pullback should face resistance around the 5737 level. Intra-day resistance is around 5661. On the downside, support levels are 5537 and 5476.

Conclusion — Expect an intra-day bounce above 5661.