Nifty near make or break level.
Nifty opened weak and continued to trade with a negative bias throughout the session to conclude the day with a loss of 0.72% at 5205. Amongst the sectoral indices the BSE Auto and CD indices were the outperformers whereas BSE Bankex index lost the most.
Nifty was unable to clear the resistance of 5260 and opened negative. It traded with a negative bias throughout the session and concluded at 5205, just above the important support of 5190. It is now placed near a make or break level. A move above 5260 would be a positive sign and would ensure higher levels once Nifty sustains above 5300.
On the contrary the level of 5170 is now an important support. A break down below 5170 would ensure further declines till at least 5130. The level of 5090 is an important positional support for Nifty and a trend reversal level.