The Nifty index moved up last week and moved to 5,944.90 points from a low of 5,629.75 in the previous week. It marked a high of 5,984.65 which is an all time high of the current year. Nifty is likely to face resistance at higher level. It is now taking resistance at 6,000 and 6,070. Once it manage to trade and sustain above the level of 6,000 a further upward movement would be seen and it may test the level of 6,140. On the downside, 5,860 would act as a strong support level for the markets. A breach of this level would increase pessimism and Nifty may face more selling pressure and it may test the level of 5,745.
The Sensex has supports at 19,350 and 19,190 and resistances at 19,530 and 19,650. The Nifty spot has supports at 5,888 and 5,840 and resistances at 5,950 and 5,975.
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