Nifty View:
Today the fall has been arrested @ 5700-5750 and it is likely to act as a support zone in coming days also. Break of this major support zone of 5700-5750 on a sustained basis may take us to 5550-5500 odd levels ( where 200 ema --- see red line and 78.6 % retracement level is also present ). On the upside Nifty Spot will face resistance @ 5945-5960. Earlier it was advisable for investors ( especially those who missed entire rally from 5350 to 6350) sitting on cash to deploy atleast 20% cash @ 5920-5940 and 30% cash @ 5750-5800. Now additional 25 % cash can be deployed once u see around 5550 levels on screen.
Have a nice weekend ahead
Regards
Ankit
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