Nifty: Resistance 5151-5165/5182/5225/5236
Support 5115/5092/5050/5015-5005
Nifty just remained in 20-30 pts for max time of the day. On the daily chart, the series of narrow range bodies clearly indicates that the preceding up move is losing steam and that the markets are showing no clear trend. As long as 5092 holds on lower side, one may keep/accumulate longs. Sustaining below this level (closing basis), Nifty may test 5050-4980.... On the flip side if 5165 levels are crossed then we may see upward momentum till 5200 – 5225 levels.
Expect flat/+ve opening.
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