The NIFTY opened on a positive note on back of strong global cues. The index witnessed a
volatile session with high volume participation.
The nifty registered an intraday low of 5068 levels and eventually closed the day at 5084 with a marginal gain of 8 points.
The index continued its upwards movement after registering a breakout from the trading range
of 4910-5050 levels.
As long as index closes above the 5050 levels , it is likely to head towards the level of 5115 /5160 /5190 /5200-5230 (negative gap resistance level) in the near term.
Sustenance below the 5050 levels could see a bit more of corrective decline towards the level of
5020 /4970 / 4940 levels.
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