Nifty (5158): We said 'Technically the market is still up though stretched, we now an F&O expiry and I would say that profit booking in the upper regions is not ruled, however if it does go up then 5202 is a though resistance to deal with'. The market unfolded as expected and saw profit booking in the upper regions and yet closed in the green for the week in the process generating an indecisive bar.
Technically the market is still up and the logical target is 5202. However, 5130 is a very crucial support to deal and one can trade long as long as 5130 holds.
The support for the Nifty is at 5130 and resistance at 5202.
