Nifty: Resistance 5777/5804/5840/5888/5905
Support 5747/5701/5666/5630
Yesterday witnessed a volatile session as equity benchmarks showed strong pull back in last minutes of trade to end flat. After trading mostly in green, markets fell in last one hour of trade led by heavyweights [Reliance Industries, TCS, Infosys & Bharti Airtel]. However, on the back of huge short covering in last minutes of trade the markets ended flat. View remains same as yesterday: Immediate strong resistance again pegged @ 5840 [which proved stiff in yesterday's session]. If sustained, Nifty may see some more upside. On lower side, support seen @ 5747. Break of either side [closing basis] may lead to further 50-100 Pts movement.
Today IIP data eyed. The Indian markets are expected to take a breather and start the session on a positive note tracking bullish global sentiments. IIP data will be in focus.
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