Nifty (5199): We said 'technically now the market is in sell mode and can slide down to around 5000 zones, strong resistance now exists at 5160 levels'. The market surprised trapping the shorts and closing in the red; a totally unexpected move.
The market has generated a fresh buy signal with a logical target of 5385 but first it needs to cross 5202 with force.
The support for the Nifty is at 5070 and resistance at 5202-5385.
