Today Stock Market closed with a small gain and managed an another positive session by the end of trading day. The Nifty has managed to push above the 50 DMA and is now testing double top resistance at the 5300-5398 area. It could be an interesting time to re-establish Nifty position with good parameters. Nifty's resistance region provided by the double top runs up to 5,398, so a 5410 theoretical stop seems sensible and gives decent risk rewards. Closing above 5250 it could take up the nifty to higher levels of 5300 to 5330 in near term. I'll suggest that traders could go for buy above 5250.
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