Nifty came down and bounced from just above the discussed support of 5225 (low made 5232) and trade at least half of the day above 5275 while making a high of 5290. We are poised slightly biased on the upside for the session to come.
Supports: 5252 is immediate, below that once again today's low may be challenged, and a convincing breakdown below 5225, can certainly bring some weakness in it for 5170-5145/25.
Resistance: 5285 as shown on the chart, above that 5315 can be targeted with further targets 5330/40 in hands.
Except the intra moves, accumulating put/writing calls near 5330 zone from positional perspective can be a better idea. Almost a similar but clearer view is posted by Ilango Sir in his blog, so I am here giving out the link Here.
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