Nifty crossed the 5500, a crucial level of resistance decisively despite the disaster in Japan. This shows a inherent strength in Indian economy. Funds from Japanese quake sell-off might have entered on Indian bourses to give a little push which we see today. This might be short term in nature. A further 50-60 points up move which place Nifty to 5600 level can be viewed by traders as a profit booking level.
30-min Nifty chart we can see a resistance level of 5550 and 5600 and having a supports at 5450 and 5400.
On on 5-min Nifty chart support levels come at 5500, 5480.
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| Nifty 2 minute chart (click on image to view large) |
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| Nifty 5 minute chart |
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| Nifty 30 minute char |
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