Nifty Outlook 6th May

Pivot 5106
Support 5101-5054-5026
Resistance 5158-5179-5203

Nifty showed huge weakness on Wednesday due to global factors and showed a net fall of more than 80 points.

Nifty took support near our mentioned level of 5041 and rebounded from that level.

Our paid customers minted lot of money using our advice and made approx 50 points gain in Nifty Future.

Currently Nifty is in short covering mode and is looking risky.

Until Nifty crosses 5147 and close above the same punters may again push it to lower levels.

Overall Nifty is weak and short covering may pull it back to 5190 level.

Closing above 5203 will take it into strong zone and fresh buying will be seen.
Otherwise Nifty is in sell on rise mode.