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Resistance for Nifty at 5,449: Prakash Gaba

SI Reporter/New Delhi 08 Aug 12 | 08:25 AM

Nifty (5,337)

We said "technically the next logical target on the way up is 5,330-5,350." The market unfolded as expected and saw the high of the day at 5,350 like a dot and has closed in the green.

Technically there is no sign of weakness witnessed on the chart as yet and the next logical target in the days to come is 5,449, but I would not be surprised if a reaction sets in here and so I would be looking for signs of weakness for a shorting opportunity.

The crucial support for the Nifty is at 5,280 and the resistance is at 5,449.

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