NIFTY TREND ANALYSIS

Nifty again slipped to close at 5574 signalling high chance of downward trend. So today the first resistance for nifty is at 5603-07 level. Next resistance ranges are at 5631-35,5681-85levels. On downside first support is at 5544-40 level. Next supports are at 5515-10,5491-87level.Nifty slightly slipped to negative region so today if nifty is below 5540 be very alert and below 5510 sellers can strike with more strength and on up side chance of covering is high above 5635 level.