Nifty – Trendline and gap support at 5450-5520

A post after a long time as had been busy with some family functions 🙂

Looks like Nifty should find support around 5520-5450. The last attempt towards 5800-5850 failed to make new highs gives a signal for more sideways period to come.

This is the 4th attempt at the trendline and a dip below it can be possibly be a trap. The medium term trend remains with a re-test of breakout.

The medium trend long bias will come under review below 5350-5400. Midcaps have been performing better indicating good strength.

Regards,

Nooresh