NIFTY VIEW

nifty cmp 5352.45...d nifty has cleary formed a head and shoulder pattern on the daily chart indicating huge resistance at the neckline 5340-5350...the nifty has closed exactly @5350....as 5400 was the last swing high nifty is likely to face huge resistance in the range of 5340-5400 ..so investors should carefully watch out this level(5340-5400) for further up/dwn moves...nifty 5500 call has added the max open interst meaning huge resistance @5500 once 5400 is crossed and 5200 put has added the max open interest suggesting gud support @5200..on the downside nifty has good support @5256,5221,5195,5158 and below that 5080,4980....global markets like the US,EUROPE and domestic factors like rate hikes and the much awaited quarterly results r expected to be the next big trigger for the india markets