Nifty is at 5290. Technically looks like the downside seems to be arrested for the time being and It could show some upside to around 5300 zones, but it would trade on 5185 closely and short the market if it breaches. The market unfolded as expected and closed in the green taking care to halt like a dot right on our resistance of 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 crucial support for the Nifty is at 5240 and the resistance is at 5340-5375.

Buy Hindustan Petroleum above 209.05 for the target of 212-214, Stoploss: 206.

Buy MindTree Ltd. above 529.80 for the target of 535-539, Stoploss: 524.

Buy Reliance Infrastructure above 586.20 for the target of 591-596, Stoploss: 580.