Nifty have moved now 5195. Technically the market is still weak though the low at 5170 has held. Nifty will show more volatility as some of the Nifty stocks could react sharply. The market unfolded week with 5170 still holding out, technically the market is still weak with no sign of strength, because of F&O expiry. In fact one more dip could set it up further.
The crucial support for the Nifty is at 5170-5080 and the resistance beyond 5270 is at 5377
During the day, the NSE benchmark index had touched that day's high at 5236.55 and the day's low at 5169.60.
Nifty Futures shut stop at 5197.40 down by -54.35 points or -1.03 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5170 else above resistance level of 5250 it would be in an upward trend.
RESISTANCE: It has first resistance close to the level of 5250 & above this level the next resistance is seen near the 5350 mark.
SUPPORT: It has first support close to the level of 5170 & below this level the next support is seen near 5100 mark.