TECHNICAL VIEW:
NIFTY FACING THE RESISTANCE CLOSE TO THE LEVEL OF 5300, AS WE HAD ALREADY MENTIONED IN OUR PREVIOUS REPORT THAT MARKET COULD STAY IN THE RANGE BELOW THE LEVEL OF 5300 & TRADERS NEED TO BE CAUTIOUS IN INITIATING THE LONG POSITION.IN THE NEXT TRADING SESSIONS WE COULD EXPECT SOME CORRECTION IN NIFTY FUTURE. THE INTRA DAY SUPPORT RANGE IS SEEMS TO BE AT THE LEVEL OF 5145 TO 5150. CLOSING BELOW COULD SLIP THE NIFTY TILL 5000 IN SHORT TERM. WE RECOMMEND THAT FOR TOMORROW SESSION TRADERS COULD GO FOR SELL ON NIFTY FUTURE BELOW 5150 FOR THE TARGET OF 5020 TO 5025 WITH THE SL OG 5205.
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