NIFTY HAS STRONG RESISTANCE AT 5180 AND 5235 LEVEL

Nifty has closed at 5140 yesterday with strong pull back rally. After the eight trading session nifty succeeded to close above 5100 levels due to heavy short-covering in large -caps stocks. Now nifty may face resistance at 5180 levels. Referring to daily chart nifty has strongest resistance at 5235 levels, A 50 day moving average line and a gap down opening oval showing in the chart at this area. Market may consolidate after touching these levels. Index option data showing 5000 as a strong support for the nifty in short term. 5300 strike rate call can be short today with strict stop- loss.