After five days in red, the Nifty opened positive on Wednesday, but led by selling pressure during second half of day, ended flat. Again today morning, the market gave a flat opening indicating indecision among the traders. On the daily charts the formation of the small bearish candle within the large bearish one indicates the Nifty likely to take support at low of large bearish candle (5,402). If the index slips down below this level then we can witness further downside. However, on the upside the Nifty might face resistance at 5,495. The traders should watch out these level before making trading decisions.
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