1st Resistance range of 5070-5125 was updated on 09-06-2012 in Strong Rally above 200-Day SMA(today at 5066) and today first 5 hours nifty range with profit booking possibility is 5089.80-5124.45.
Sustaining beyond following ranges will be next moves confirmations:-
1- 5106-5124(today most time trading range) 2- 5089.80-5124.45(first 5 hours nifty range) 3- 5070-5125(Previous 1st Resistance range)
US Futures are more than 1% up today after US Markets good closing last Friday,resultant all the Asian/European markets are 1% to 2% up but Indian markets are under performing and less than 1% up therefore profit booking possibility on the back of strong global cues can not be ruled out today.
First 3 hours sideways quiet market between 5106-5124 today and juat watch sustaining it beyond for next moves confirmations despite strong and blasting global cues.