SAR FOR NIFTY AT 5366

Nifty has broken the 5400 level in the morning trade and it is to be seen if it holds SAR at 5366 or not. Bank Nifty has not participated in this rally (courtesy NPA's of SBI) and is already below its SAR.

Nifty crosses 5400

After moving in a range Nifty finally crossed 5400 and closed at 5420. Bank nifty is still struggling to break the range. Without its support jumps are not expected.

Nifty facing resistance

Nifty is facing resistance at 5400 (Oct'11 high & sloping trendline from Oct'10). It is still above SAR, whereas BankNifty went below its SAR on friday and gave a close below it.

Hurdles ahead

Nifty is attempting next hurdle at 5400.