Daily Technical Analysis

Nifty — The index opened on a flat note and saw range-bound movement throughout the day’s trading. It ended the session with loss of 21 points.

20 dma and 50 dma — The index faces resistance around the 20 dma at 5829, sustaining above the 5829 level should see the index exhibit intra-day strength and test higher levels around 5874-5923. On the downside, the index has support around the 50 dma at 5737, with lower support around the 5650 level.

Conclusion — Expect intra-day support around 5737.