Nifty(5039): A small range bound day post a big move is a normal market behaviour as market participants take stock of the move.

We have an inside day bar and a “doji” pattern on the daily charts. A move past the boundaries usually provides a good short term trading opportunity. So watch 5002 on the lower side and 5055 on the higher side for a quick 30-40 point intraday day move (Caution if Nifty opens above this level in the first 5-10mins).

Resistance: 5110 and 5165

Support: 4955 and 4870. Watch 50DMA at 5020 too.

Open positions: Silver, Heromotors, OFSS, Apollo Tyres.