Nifty (5362): We said 'technically the next logical target beyond 5385 is 5400 and then to 5434 in the days to come, crucial support exists at 5275'. The market unfolded as expected and saw the resistance at 5390 very close to our resistance of 5385.
Technically the market has achieved its target but with no sign of weakness. So technically the market is up and the next logically target beyond 5385 is 5400-5435. The market is also looking stretched and so I would not rule out a reaction if it comes.
The support for the Nifty is at 5325 and resistance at 5400-5435.
