Technical View on NSE Nifty

Nifty again continue the upward trend and managed to close above 5200 mark. After a flat opening the market turned to weak and initiated the short sellers to initiate fresh selling but soon after the sellings marked up again Huge buying helped the market to cover up the troughs made by the shorts and market closed above 5200 for the first time after six weeks.

The crucial support for the market seems to be 5136-5184 with a resistance of 5250-5310. I recommend that traders should go for long in Nifty Futures above 5240 with the stoploss of 5200.