Nifty may test 5150-5160: Angel

According to Angel Broking Technical Analysis report, coming trading session Nifty is likely to trade with positive bias and test 5,150 - 5,160 levels and if it sustains above these levels then the next possible target would be 5,200 – 5,225. The bullish view would be intact until the lower range of the ‘Channel’ is breached which around 4,980-4,930 levels.

Angel Broking Technical Analysis report:

On the daily charts, we have been observing the ‘Channel’ for the past few days. The Nifty bounced from the lower range of the channel and continued it’s upward move. For the coming trading session Nifty is likely to trade with positive bias and test 5,150 - 5,160 levels and if it sustains above these levels then the next possible target would be 5,200 – 5,225. The bullish view would be intact until the lower range of the ‘Channel’ is breached which around 4,980-4,930 levels.

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