As said on Last week Nifty Closed above the Cup Pattern (see last week post). It may likely to have a up move if sustains 5158 levels.
5182 to 5187 will act as heavy resistance and above that 5205, 5227, 5254 and 5300 will act as Resistance.
For Bearish trend Nifty should cross and close below 5092 to 5084. Downside support will be on 4997, which is also 34 EMA.
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