Nifty close above 5200?

It seems there are higher possibility for Nifty to cross 5200 mark tomorrow. But as like today, Nifty spot will face a major hurdle at 5150 level. Three candles almost with same tops formed in the EOD chart, suggesting, a break out above 5150 spot level will provide strength to cross 5182 level.

Once that top is tested then fair amount of short covering and fresh buying may take the markets to the next stage. On the other hand, markets are so sensitive now and even a small negative news can make markets to fall down like playing cards and bears will entirely kill the longer.

As i said in the previous article, telecoms sector showed some strength today with ONGC getting out from long hibernate period. Friday close of market will be much more important as i expect, this hide and seek game will come to an end tomorrow.