Nifty: Resistance 5051/5065-5072/5080/5115/5130
Support 5022/4994/4968/4949-4937
Nifty remained in +ve zone for whole trading day on back of better than expected GDP data. As written above 5015, Nifty passed 5050. But the positive momentum lacked volume to support this rally. We would advice to avoid buying leverage position at higher zone of 5080-5115 & better be hedge with 4900/5000 Pe. Intraday Nifty is expected to open flat & may trade in a narrow range in early trade. Immediate intraday support @ 4994, breaching it may drag nifty to 4949 & lower area.On upside, stiff resistance @ 5065-5080 range, risky traders may concentrate on selling on higher resistance area with 5130 Sl.
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