Nifty for Tuesday (Nifty Trend, 22nd March)

[rohans305]

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Nifty opened on positive note at 5,408.75 levels and after making initial day`s high at 5413.30 levels. Nifty showed volatility throughout the day with in 5,413-5,348 range and closed on flat note in red at 5,364.75 levels with 8.95 points loss.
Nifty is trading in range for many days and volatility is being seen on daily basis. Tosday, Nifty also showed volatile session and closed on a flat note. Nifty has resistance in 5410-5430 range and support in 5,360-5,340 range. In this area, volatility may be continuing.
For daily purpose, the trend deciding level is at 5,370. If Nifty shows strength above 5,370 level, then rally to 5,410-5,430/5,500 levels may be seen. If Nifty does not show strength above 5,370 levels selling pressure till 5,340/5,300/5,260 may also be seen.