Nifty has crossed the 5170 resistance but this is not that much convincing. The move remains a suspicious one. If in the same breathe it crosses 5400 then only the trend will change to bullish or else the bearishness will come back again.
Now the immediate resistance is 5230 if it crosses this zone then it will travel towards 5330 non stopping.
As the European & U.S markets are doing positively well our market is expected to gap up open and reach 5330.
If its not able to hold 5170 then we can see a major correction.
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