*Nifty futures respected last week's strong resistance level of 5309.21.
*Weekly Pivot for nifty is 5254.27. Can add more longs above this level. Be cautious with longs below this. Any fresh shorting below 5254.27, needs the stop loss above 5273.00
*Immediate upside target for Nifty spot can be 5347.55.
*Strong weekly resistance can be 5360.97.
*Dow looks weaker. Under any global jitters, nifty is unlikely to break 5179.83 in March.
*Nifty has made a hanging man candle on weekly chart and overbought status on EOD chart can be tempting factor for shorting. But overall situation is such that, nifty is buy on dips.
*For Monday, if any one is overnight short, 5303.96 spot can be the stop loss.
