Nifty (5323)

We said, "Technically the market seems like a bull trap now and its time to book  profits."

The market unfolded as expected with profit booking technically the market is still in a reaction mode and some more profit booing in the upper regions is not ruled out. However 5270 seems to a strong support zone

The crucial support for the Nifty is at 5270 and the resistance is at 5378-5449