Nifty: Resistance 5130/5151-5165/5182
Support 5082/5050/5007-4994
Nifty again failed to close above resistance zone & cracked from 5165 zone to close just above 5100 zone. Inflation rate jumped to 4.78% in November from 1.34% in October, driven by rising prices of essential food items such as pulses, fruits and vegetables. Intraday Nifty is expected to open flat/-ve in line with Asian Market. Sustaining below 5115, expect Nifty to touch 5082/5050 range intraday & above 5130 a small rise to 5165 is expected, but sustainability of this level is important.
We expect Nifty to remain in broad range of 4950-5200 in absence of any major cues in month of december.
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