Updated for-Oct/17/2011 Nifty was on bull trend last day and closed at 5132. So today the first resistance for nifty is at 5165-70 level. Next resistance ranges are at 5194-99,5225-30,5266-71,5318-23 levels. On downside first support is at 5108-05 level. Next supports areat5086-83,5071-68,5050-45,5020-16,4995-91,4970-66,4916-10,4893-90,4868-63, 4840-35,4808-05,4790-85,4730-25,4704-00,4677-74,4660-57,4615-10,4595-90,4540-35 level. Nifty is now in slight positive trend and a move above 5165-70 can trigger short covering next main intra resistance level are at 5194-99 and 5225-30 level and on down side alert below 5080 level.
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