Nifty levels or Trends Today 7th May



Nifty closed on a bullish note at at 5971. So today the first resistance for nifty is at 5997-01 level. Next resistance ranges are at 6019-22,6037-40,6056-61,6077-80,6109-14,6128-31,5170-75 levels. On downside first support is at 5944-40 level. Next supports are at 5922-18,5905-01,5882-78,5862-58,5840-37,5808-05,5785-80,5750-45,5730-25,5705-00,5675-70,5643-39,5607-02,5584-79,5550-45,5515-11 level. So today on upside intra resistance for nifty are at 6001,6022 and 6040 level and on downside support are at 5940 and 5918 level.

weekly trend
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Positional Support for NIFTY 5887 5853 5800 5792 5757 5747 5718 5678 and positional Immediate resistance for NIFTY is 6031.
Intraday Resistance of NIFTY are 5997.5 : 6019.4 : 6075.5 : 6114.8 : 6154.1 : 6193.6
Intraday Support of NIFTY are 5944.6 : 5922.7 : 5881.4 : 5842.9 : 5804.6 : 5766.4 : 5728.3
Oscillator AnalysisThe oscillator is showing BUY signal but be cautious on NIFTY since NIFTY is trading in overbought level.Short Term Oscillator Analysis-The signal is SELL and NIFTY in overbought region.

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