Daily Technical Analysis

Nifty — The index opened on a flat note and drifted down throughout the day’s trading session. It ended the day with a loss of 80 points.

Resistance & Support — The index is facing resistance around the 10 dma = 5725 and 20 dma = 5754; intra-day rise is facing stiff resistance around the 5725-5754 band. On the downside, index has support around 5515 and lower support is around 5485(50dma) [dma= daily simple moving average].

Conclusion — Intra-day pullback will face resistance around 5725-5754 band.