Nifty (5270): We said 'technically the market is still up with the next logical target being at 5385 with some resistance around the 5300 zone'. The market unfolded as expected and has closed in the green but after finding resistance closer to our resistance point of 5300 and in the process generating an indecisive bar.
Technically the market is still up but looks exhausted with the exhaustion bar and so I would not be surprised if a reaction sets in, however 5385 was the logical target.
The support for the Nifty is at 5225 and resistance at 5300-5385.
