Nifty for the day made a high of 5551.9 and was not able to with stand the level and gradually made a low of 5486 from there it rebounded to close at 5516 which is 36 points positive from previous close.
Nifty will face resistance at 5555-5590 zone and it is having support at 5470. market will be range bound for some more days between 5450-5555.So trade on stock specific.
Short CIPLA at 311 with stoploss of 316 for the target of 295 and 287
Buy ABGSHIP 385-393 WITH stoploss of 379 for the target of 415
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