This entire month of January has brought lots of cheers for Indian Equity Markets. Both bench mark indices (Nifty & Sensex) gained more than 10%. RBI's move helped a lot in boosting up markets. For Nifty short term trend is looking positive and and Rupee appreciation and strong EURO may continue adding further uptrend.
For Intraday trading on Monday 30 Jan, Nifty has strong support at 5,130 levels. Up move in the market will face stiff resistance at 5,220 levels; as this is 200 days moving average, and any trades above the same will lead to higher levels in markets of 5,300 and 5,400. On the lower side breach of 5,130 will be viewed negatively for lower level targets of 5,050 and 4,950.
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