Nifty was trendless yesterday and closed at 5278 .Today the first resistance for nifty is at 5292-96 level level.Next resistance is at 5313-16 level.Next resistance is at 5327-29 level.Next resistance is at 5374-77 level.Next resistance is at 5414-19 level.Next resistance is at 5437-42 level.Next resistance is at 5477-80 level.Next resistance is at 5516-21 level.Next resistance is at 5556-61 level.Next resistance is at 5606-10 level. On downside first support is at 5255-50 level.Next support is at 5233-29 level. Next support is at 5200-95 level.Next support is at 5177-75 level.Next support is at 5157-54 level.Next support is at 5075-72 level.Next support is at 5039-35 level.Nifty has now in bear region so be very alert. So today unless nifty is above 5329 no intraday long and positionally no long until a close above 5420.Below 5230 more selling will happen so be alert below that level.
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