While commenting on Nifty Outlook, the short term trend has definitely turned bullish. However, global developments will continue to influence the market sentiments, thereby making the markets highly volatile. The levels of 5220-5210 will now act as support on the downside. On the upside, Nifty has some resistance in 5,300-5,350 zone.
For intraday trading tomorrow, trend deciding level is 5,280. If Nifty shows strength above 5,280 levels, then rally to 5,325-5,350-5,400 may be seen. On the other hand if Nifty does not show strength above 5,280 levels then selling pressure till 5,230-5,200-5,150 may also be seen.
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