Support : 5030 Target: 5195

The trend is up in all timeframe. The hour charts are developing negative divergences.

Support : 5030
Daily and 15 Min chart has strong support of 5030. Below 5030 next support comes around 5005.

Target : 5195
Inverted Head and Shoulder pattern target comes around 5200. The 123.6% Fibonacci Extension comes around 5195. Hence expecting Nifty trade in the range 5030 to 5195.

Buy around 5050 and Sell around 5180.

If Nifty opens up and trades with positive bias after 30 min then one can buy with a target of 5180.

Trendz

Week: Up (Down below 4915)
Day: Up (Down below 5031)
Hour : Up (Down Below 4900)
30 Min: Up (Down Below 4965)
15 Min: Up (Down Below 5030)

Pivot Point

R2 5124
R1 5102
PP 5075
S1 5055
S2 5028

Thanks