Nifty resistances at 5260 & 5290: ICICIDirect

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ICICIDirect.com in its report dated March 18, 2010 says that Indian market is likely to open flat on the back of flat global and Asian cues. Nifty has supports at 5190 and 5150 and resistances at 5260 and 5290.

"The Indian market is likely to open flat on the back of flat global and Asian cues. The market closed off the day's high on Wednesday, as profit taking emerged at higher levels. The sentiment was upbeat as the US and Japanese central banks decided to keep interest rates unchanged. Global markets also offered support. Public sector, healthcare, metal, capital goods, banking and IT stocks led the gainers while realty, auto, consumer durable and FMCG stocks ended on a subdued note. After rising to as high as 17,577 in the early session, the Sensex gradually pared gains before finishing at 17,490, up 107 points or 0.61%, while the Nifty rose by 36 points or 0.65% to 5,232. The  Sensex has supports at 17360 and 17290 and resistances at 17580 and 17710. The Nifty has supports at 5190 and 5150 and resistances at 5260 and 5290," says ICICIDirect.com report.

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