At current levels Nifty is having positive trend for short term period but technically a correction may be seen. For intraday trading on Friday 27-Jan Nifty has strong support at 5110. Below this level it could find next support at 5030. On the upside Nifty has immediate resistance at 5202, and if it trades above this level then rally to 5240-5275 may also be seen.
On Friday new future series will open and it is expected that Nifty may touch the level of 5225. It is recommended to buy Nifty as long as it trades above 5130 levels.
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