Nifty Technical View

NIFTY MADE THE NEW HIGH TODAY AND ALSO HOLD THE LEVEL OF 5250. IN THE NIFYT THE MAJOR RESISTANCE ZONE IS 5300 TO 5305. WE COULD SEE THAT MARKET COULD STAY AT THAT POINT FOR SOME TIME. CLOSING ABOVE THAT COULD TAKE IT THE NIFTY FUTURE TILL 5370 IN SHORT TERM.WE RECOMMEND THAT TRADERS NEED TO BE CAUTIOUS CLOSE TO THE LEVEL OF 5300 FOR TAKING NEW LONG POSITION.THE INTRA DAY SUPPORT IS SEEMS TO BE AT THE LEVEL OF 5200 TO 5210. THE KEY SUPPORT BASE FOR NIFTY FUTURE IS IN THE RANGE OF 4990 TO 5000.