Nifty (5046): We said 'technically the market is up but I would be cautious and be ready to short the market if it breaks the crucial support of 5000'. The market has so far managed to stay above the crucial 5000 mark and yet taking care to stay below the crucial 5067 mark.
Technically the market is stretched and 5000 remains the crucial support level to watch for shorting and should be considered up as long as 5000 holds.
The support for the Nifty is at 5000 and resistance at 5067-5145.
