Nifty was on bear trend yesterday day and closed at 5049. So today the first resistance for nifty is at 5072-75 level. Next resistance ranges are at 5092-96,5115-18,5133-36,5148-52,5165-70, 5194-99,5213-16,5229-33,5260-65,5300-02,5323-27 levels. On downside first support is at 5028-25 level. Next supports are at 5003-97,4968-62,4950-45,4916-10,4893-90,4868-63, 4840-35,4808-05,4790-85,4730-25,4704-00,4677-74,4660-57,4615-10,4595-90,4540-35 level. The trend looks volatile with slight positive bias and nifty to be not in weak side unless nifty trades below 5000 mark. So Monday if nifty manages to trade strongly above 5100 we expect some short covering but main hurdle on upside are at 5165-70 and 5194-99 level and on down side no long if nifty trade below 5000
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