Today,it is time to settle down a bit after a day of unexpected weakness. Bulls may bounce back, tracking the overnight advance in the US. Wall Street managed to escape the Greek-related global selloff, as investors welcomed better than anticipated retail sales. Markets across Asia are stable with a few managing to hold in the green territory. We expect a higher start for the Indian market but things could turn choppy later on.
In case of a fresh fall, the NSE Nifty is likely to find support at 5200-5230. On the higher side, resistance may kick in at around 5400. Worries over European sovereign debt issues might continue to linger for a while. One also has to closely follow events in the US and elsewhere. Attention will soon shift to earnings, both here and abroad.
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