Sideways: Mohit Gaba

The Nifty traded in a narrow 50 point range yesterday. My bias on the market is positive, however to actually go long on any of the indices is a high risk trade as the risk to reward is not in a traders favour. Given the major events that will take place in the coming days (Greece, RBI rate decision) I would be a little hesitant on taking large positions on the indices, due to the uncertainty of the outcomes of these events.

The Nifty is coming up against a high resistance zone. 5150 5220, this has been a region where the Nifty has found strong support previously and now this region becomes a strong resistance zone. It should take some doing for us to break above this zone.