Daily Technical Analysis

Nifty — The index opened on a positive note and reached an intra-day of 5981 in the opening trades after which it drifted down. It ended the day with a gain of 1 point.

10 & 20 day moving average — The index has support around the 10 dma = 5791 and 20 dma = 5774. Declines should find support around these levels. Intra-day support is around 5860, a break below which could see index drift down intra day. On the upside, index faces resistance around 5981-6012 range.

Conclusion — Intra-day support is around 5860, a break of which could see intraday
weakness.