Nifty: Resistance 5075/5115/5151-5176
Support 5050/5005-4990/4949/4905
Nifty opened & traded -ve for the day in line with Global market on Tuesday. Nifty after opening -ve, hit fresh intraday low & rangebound session was followed by it, with some short covering witnessed in last half hour taking Nifty to close above 5050. Today, Nifty may open +ve with 25-30 pts gains inline with Asian market. Immediate resistance pegged @ 5075, if sustains above this zone, Nifty may see some more +ve moves towards 5115 & crossover of this zone may take Nifty may back to test stiff resistance zone of 5151-5175. On lower side, Nifty has good intraday supp @ 5050 & till its holding 5005-4990 [closing basis], Nifty has full chances to bounce back positionally on dips.
Trade with levels.
Happy Trading.
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