Nifty Outlook 13th May

Pivot 5141
Support 5117-5089-5053
Resistance 5176-5204-5237n


Nifty is now standing at important crossroads. From here we can see some upwards moves or evn downtrend depending on sentiments of punters.

Using Fibonacci levels will be quite handy here.

Using recent low made by Nifty we can define paeks to be achieved by Nifty.

There are three important levels to be looked upon.

Level 1: 5137
Level 2: 5189
Level 3: 5237

Now previous two are already tested but the third one and presently the most important one is yet to be tested.

If Nifty manages to close above 5189, then we can see 5237 level as well.

Any closing above 5237 will put Nifty again in the bull zone and we may test even higher levels.