Nifty traded last 3 hours between 5108-5125 with mixed patterns on on 17-10-2011 and it was mentioned on same day. Nifty again traded within or near about same range for more than 3 hours and it was again mentioned in Mid-session Outlook today.
6 hours trading within or near about 5108-5125 and Nifty moved above 5125 and also trading above for the last half hour but lacking force therefore confirmation is required tomorrow through sustaining above 5125 and crossing first resistance range of 5125-5155.
Resistances at higher levels are as follows;-
1- Selling between 5135-5155(on 17-10-2011)
2- Old Resistance 5145-5220
Finally sustaining above 5125 will mean high possibility of blasting rally.