Nifty on Monday closed above its resistance level of 5175-5180 levels. Next day the same was broken and the Nifty closed above the 5200 levels after taking support at 5170 levels. Yesterday Nifty closed at 5233 levels.

In my last article it was mentioned that the NIfty closed above its 100 & 200DMA. Decesive broke out above the same can take the Nifty to 5250 levels. Close above the same will take the Nifty to its next level of 5325-5375 levels.

Its been seen in the past also that whenever the Nifty approaches the 5200 levels, markets men try to short the market in anticipation that the markets might correct. It had happened many times in the past. But this time the scenario is totally different. Nifty according to me will make new high and might cross the 5300 levels.

Yes I have mentioned in the past also that there are still dark clouds in the Global markets and for the Indian markets Inflation is a major concern, But there is no other bad news for the Indian markets.