Nifty is now at 5332. Technically the market looks tired in these upper regions and some more profit booking is not ruled out. Looks like the RBI rate cut policy party seems to be winding up and lower levels to 5230 could be a reality the market surprised and negated the previous day’s down move and stopping just on our resistance like a dot. Technically up move is on as long as 5300 holds and the next logical target would be closer to 5375 but if 5300 goes then we could be in for a rough time.

The crucial support for the Nifty is at 5300 and the resistance is at 5375-5400

Buy Coal India above 361 for the target of 364-368, Stoploss: 356.

Sell BHEL below 250 for the target of 247-243, Stoploss: 255.

Buy HDFC Bank above 555 for the target of 562-568, Stoploss: 547.