Nifty: Resistance 5080/5101-07/5121/5151/5165
Support 5051/5022/5007/4994/4949
Nifty yesterday moved 100% exactly as written. As posted yesterday, above 5022 Nifty rallied past 5050 & touched 5080. For today, Nifty faces stiff resistance @ 5080 & above 5080, minor resistance @ 5101-07 range, it may try touch 5151 if sustained. From there, we expect selling pressure to be seen. On lower band, Nifty has great support @ 5007/4994, sustaining below, Bears may try to take charge.
Expect flat/-ve opening & some booking in later part of day ahead of a long weekend.
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