Nifty (5,104)

We said, "The crucial support for the Nifty is at 5,030-4,931 and the resistance is at 5,100." The market closed right on resistance as a sideways movement was expected. Now the market is still sideways and may go up to until 5,150 as well but the crucial support to watch would be 5,048 and the breach of 5,048 would generate a shorting opportunity.

The crucial support for the Nifty is at 5,048-4,931 and the resistance is at 5,150.