NIFTY OUTLOOK

Nifty future's possible high and low for next session is

5267 and 5223

resistance now at 5272 and crossover will zoom towards 5296

Break of 5222

can create panic selling in the market even towards 5173.

Nifty future has made an inside day in today's daily candle with smallest range in last 7 days

So either side break in today's high 5266 and low 5232 (on spot) can be decisive.

Important point to note is that it has not broken yesterday's low of 5225 (which itself is an important level for the year, being opening rate of 1.1.2010)

fresh short position should be taken only below 5222 with stop loss of 5262.

On the down side, it will find support at 5210 and 5173.

Next major support will be 5075.

Fresh long position should be taken above 5300 with stop loss of 5275

NIFTY MAGIC POINTS ARE 5262 and 5222

FINAL NOTE 5173 SHOULD BE STOP IF NOT 5100