Outlook for the day
The Nifty is likely to consolidate between the range of 5,000-5,020 to 5,180-5,200 levels in coming trading session.On the downside 5,080-5,050 levels is an immediate support. On the higher side it may face resistance around5,120-5,150 levels. Stock specific movement is likely. The important support for the indices remains at 5,020-5,000levels where 200 day’s EMA (exponential moving average) is expected to lend support.
