Nifty is at 5300. Technically the market looks positive and should be traded on the long side as long as 5240 holds for a logical target of 5340-5375. The market unfolded as expected and climbed to our target zone and got exhausted closer to our resistance and sold off. 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 crucial support for the Nifty is at 5230 and the resistance is at 5340-5375.

Buy Infosys above 2373 for the target of 2390-2407, Stoploss: 2350.

Buy Tata Motors above 310 for the target of 313-315.50, Stoploss: 306.

Buy MindTree Ltd. above 529.80 for the target of 534-538.50, Stoploss: 524.