Nifty: Resistance 5666/5697/5725/5750/5758/5777
Support 5656/5630/5615/5585/5557
A day after the Greek Parliament cleared the austerity package, Indian market along with world market rose with good gains. Indian market remained in a narrow range, before a last minute spike which made Nifty cross 5650. Today, again we may see a gap up of 40-50 pts inline with Asian market. Nifty is now in overbought zone. With extended rally, Nifty is now in cautious mode for coming sessions. Avoid buying at higher resistance zone. Risky traders may use highs @ 5697-5725 to sell. Nifty closing above 5750, may try to extend rally towards 5850-5900 zone. On lower side, Nifty needs to break & sustain below 5630 to make Bears some hold & below 5585 we may see some correction confirmation.
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