Yesterday NIFTY went up 4.75 points to close the day at 5363.45. It was a directionless day with a weak bias (see the intraday chart below). The Index is showing strength on all three counts as the Trend Score is hovering in a range of 13-17 since early August 2012 and we expect it to trend higher to test its next major resistance level at 5450. Near term support levels are at 5250 and 5200.
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