Nifty: Resistance 5420/5433/5441/5451/5491
Supports 5400/5385-5350/5332/5315/5280
Nifty started to show weakness at high, of we were writing from past few days. Today, we may see gap down opening with 30-45 odd points. Nifty now has strong support at 5350 range. Do keep an eye on this level.... do not short around this support zone... if Nifty breaks this zone, Nifty may see 5315 zone. nifty strong support @ 5280. Below, it we may see some more pain. On upside, nifty may see strong resistance @ 5385 & 5420... crossover of which may give some relief to Bulls.
IIP Data to be watched.
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