Yesterday again 5985 levels proved to be a strong resistance and bears took complete control from there on and pushed Nifty towards the low of the series around 5826.
Overall markets have opened strong for the day and is hovering near to 5900 levels. Strong resistance exists at 5934 and it is unlikely for markets to break the barrier for the day.
On the bottom side, 5864 is providing support. So it is likely that markets will hover between the levels of 5864 and 5934 for most of the day before bearishness sets in.
There might be a final bearish move for the day, with ONGC correcting significantly.
Resistance levels : 5895, 5906, 5934
Support levels :
5864, 5834, 5786
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