The NIFTY opened the session with a positive gap and registered an intraday high of 5197
levels. Thereafter the index traded in a narrow range for rest of the session.
The nifty registered a low of 5123 and eventually closed the day at 5161 with a gain of 88 points.
After witnessing a sharp fall of more than 600 points in the last seven sessions the index today
has given a technical pullback.
The index is now trading near to its immediate resistance level of 5200-5235. Sustenance above the 5235 level could see the index testing its breakdown level of 5270 followed by the 5325 levels.
Failure to sustain above the 5200--5235 level could see index declining towards the level of 5090 /5030 /4950 levels.
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