As mentioned in the morning I have writend that the nifty has a resistance at 5200 levels and the same could not be crossed. I have even mentioned the support levels of 5071 and for 3 times the nifty slided till this levels and stabilized and finally broke the support levels. But the close is still above 5071.Till the time the close is not below this levels, be invested in the market having limited position.
Close below 5071 levels, Nifty can slide down till 4975-4870 levels.
Nifty future closed Rs. 50 in discount 5070 as compared with the Nifty spot of 5109.55
Weekly close is also above 5070.
The Next move will be decided on monday.
Reliance power is trading at the premium of Rs.140-145 as of now.
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