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Resistance for Nifty at 5,120: Prakash Gaba

SI Reporter/New Delhi 15 Jun 12 | 08:29 AM

Nifty (5,055)

We said "the market continued its up move but got stalled at 5,145 and closing again right on 5,121. This is a cause for concern and now if the up move continues then 5,185 is a possibility but the breach of 5,100 would be a worry." The stalled up move of the earlier day showed its true colour and the market breached the crucial 5,100 mark and closed in the red. The next logical target on its way down is 5,002-4,991.

The crucial support for the Nifty is at 5,002-4,991-4,958 and the resistance is at 5,120.

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