For the day the level 15530/5245 may act as major resistance for the market and sustenance of the same will lift the
market to 5270/17600 and 5290/17720 again. In case if it fails to sustain above the same or fails to reach 5245 then it
may convert into vertical sell off to 5180/17330 or may be more.
Similarly the level of 5180/17330 may act as a major support for the market and sustenance of the market below the
same may result in to one more round of weakness to 5150/5140 (17150) levels. In case the market survives above the
5180 then the upward thrust will remain continue up to 5245/17530 or may be more above 5245.
For the day trade strictly as per levels of the market.
Nifty Strategy: As per formation it seems that the activity will pick in the second half of the trading session. Sell
nifty if it remains below 5180 in the second half of the trading session with a tight stop loss above 5215. Buy nifty if
remains above 5245 in the second half with a tight stop loss below 5215. Achievable targets in both the cases are
5140 and 5290 respectively.
