Intraday View For 19/04/12

Nifty: Resistance 5337/5356/5385/5420

          Support 5315/5275/5255/5222

Nifty had a quiet rangebound session for the maximum time of the session, with selling pressure witnessed from higher resistance zone. Nifty closed at day low, in late trade. Today, nifty may open flat/+ve with 10-15 pts gains. Nifty, has immediate intraday resistance pegged @ 5333. Sustaining it, Nifty may move towards 5355-5385 zone. On lower side, Nifty now has good immediate support @ 5275. Below it, Nifty gets weak for dip towards 5250-5222 zone.

Overall, we may see rangebound session in initial hours on caution before Spain auction. Dips can be used for buying upto 5222 zone.

Trade with levels.
Happy Trading.
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