Yesterday nifty showed selling pressure and broke the support at 5,475. It has just managed to close at next support level of 5,440. If Nifty holds the immediate support of 5,475-5,440, some recovery may be seen above 5,500-5,530 levels. For daily purpose, the trend deciding level is at 5,475. If Nifty shows strength above 5,475 levels, then rally to 5,530/5,565/5,605 levels may be seen. If Nifty does not show strength above 5,475 levels then selling pressure till 5,420/5,400/5,350 may also be seen.
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