Nifty may remain under selling pressure till the time it trades below 5300. However 5190 continues to remain an important support.
Nifty opened positive but slide in the negative territory to end the day with a loss of 4 points at 5192.Amongst the sectoral indices the BSE HC and FMCG indices were the outperformers whereas BSE Auto and Realty indices lost the most.
Nifty marginally breached the support level of 5190 but ended above the support. In the immediate term if there is any bounce then the level of 5260 would act as a resistance ore Nifty. Nifty trades near a make or break level of 5190 and a decisive breach below this level or support activity near it will decide the short term trend of the market. However, till the time 5300 is not conquered Nifty would continue to remain under selling pressure. Only sustenance above 5300 can take it higher till 5345 and beyond that 5400.