Nifty: Resistance 5088/5115/5143-5151/5165
Support 5050/5015-5005/4994/4949/4916
Nifty made exact bottom at our support level of 5050. Nifty traded in range of 5082-5050 for whole day. Nifty is expected to remain range bound & we still maintain our cautious view till 5165 is not breached & sustained. Nifty below 5050 if sustained looks weak & if breaches 5005... short term momentum turns weak for coming sessions. Without any correction, upside movement would be termed as "unhealthy".
Expect +ve opening with 15-25 pts on Nifty in line with Asian Market.
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