Nifty: Resistance 5616/5630/5655-5666
Support 5587/5568/5555/5530-5525
Nifty bounced from lower support areas & as expected closed in +ve despite weak global cues. Intraday, expect Nifty to open flat / +ve with 15-20 pts in line with Asian market. Next phase of rally will be seen above 5666 only... so till then all longs should be hedged. Immediate resistance @ 5630-5666 on upside where Nifty may face selling pressure. On lower side, strong support @ 5587-5555, below this only, bears may take control.
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