NIFTY TRADES IN RANGBOUND

On Thursday, Nifty future opened gap down at 5574.40 levels and after making initial low at 5546.10 levels, NF showed good strength and touched a high at 5667.05 levels. However, profit-booking was seen near resistance levels at 5650. But NF closed on a flat note in green at 5600.25 levels, with a 0.5-point gain and a 2% fall in open interest,Clearly, short covering was seen in Nifty  future.

Technically, Nifty also has good support at 5500-5450 and faces resistance in the 5750 zone. Therefore, Nifty may trade in the 5450-5750 zone for the next few days.