Nifty has yet another positive session and in the managed to close with the modest gain. Overall it was the upside consolidation day for the market. In the upside as we had already mentioned in our reports that 5250 is the crucial resistance. Closing above 5250 could take up the nifty future till the higher levels of 5320 to 5325 in near term. We recommend that traders could initiate longs in nifty future above 5250. If it does not surpass this level then one could go for short in nifty future for the target of 5150 in short term.
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