NIFTY TREND ANALYSIS

Nifty was on very slight bear trend to close at 5571. So today the first resistance for nifty is at 5604-08 level. Next resistance ranges are at 5634-39,5652-56 levels.On downside first support is at 5539-35 level. Next supports are at 5507-02,5475-70 level.Nifty is currently in a negative territory so today if nifty is below 5535 be very alert and below 5500 sellers can strike with more strength and on up side chance of covering is only above 5640 level.