Nifty has closed just above the Dlema but closed below all the HEMA's and Pivots - which shows general weakness.
Owing to Global market conditions there might be a gap down expected which is prudent to part book intraday at 5585,5565 and 5532 - week 5ema 100 DMA and 38.2% retr respectively. If there is persistent selling it might drag the index to 5505 -50 DMA.
There are many supports between 5600-5500 at
| 5 DMA | 13 DMA | 21DMA | 34DMA | 55DMA |
| 5,653 | 5,589 | 5,508 | 5,506 | 5,527 |
| 5 EMA | 13 EMA | 21 EMA | 34 EMA | 55 EMA |
| 5,643 | 5,594 | 5,561 | 5,544 | 5,549 |
Breaking all there supports and a close below 5505 - 50 DMA would lead to more lows.
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