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May 28, 2012, 08.43 AM IST
If the Nifty closes above 4960 then we could see levels of 5020 – 5040, maybe even levels closer to 5100, says Technical Analyst, Mohit Gaba.
Technical Analyst, Mohit Gaba:
The Nifty held ground; it closed flat after a big up move. Given the drastic shrinkage in premium on the Bank Nifty and Nifty a good up move is possible; also it being F&O expiry short covering could take place.
If the Nifty closes above 4960 then we could see levels of 5020 5040, maybe even levels closer to 5100. I have personally gone long on the Bank Nifty before close of the trading session. One can go long on the Nifty with a stop loss at 4885 for higher targets.
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