MTECHTIPS

MTECHTIPS:-NIFTY
The  Nifty  opened  positive tracking  strong global cues,  and the markets  after a choppy early session managed to hold on to the gains, and closed with marginal gains.The opening is expected to be negative taking cues from the weak Global peers. Nifty has yet again failed to close the gap down from the Negative island reversal formed at levels of 5344 about a fortnight ago, The nifty managed to only match to the previous day’s high, and made a high of 5342, raising concerns of the Nifty's vulnerability to dwindle down at any point in time during trade. Nifty has crucial support levels at around 5280 and important resistance levels around 5375, until these levels are broken on either side the market is expected to be range bound.