#40 Nifty Update

NIFTY today opened flat but then showed some profit booking in all scripts with market staying in red all the time. NIFTY closed at 5632 which was above a strong support of 5600. Market is yet not able to decide the its road ahead. Nothing fundamental in the domestic region to move market on the either side. Technically speaking today a hammer has been formed which might have significance of reversal in the market. Still my call is wait and watch for the either level to breakout at 5600 or 5750.
NIFTY levels for 6th July:-
R-5657             S-5612
R-5700             S-5600
R-5731             S-5556
R-5750             S-5508

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