Nifty near the resistance !

MONTHLY OUTLOOK.

* Monthly pivot is 5279.52. In short there can be weakness below 5280.

* There are mixed signals. Market traded in a very short range in the month of April. Earning season is almost done with. Unless nifty crosses above the resistance line with good volume, no good strength is expected.

* There can be a panic up to 4922.15 below 5159.38. In between there can be a support at 5040.77.

WEEKLY OUTLOOK.

* Weekly pivot is 5274.27.

*Weekly resistance can be 5346.08 and support can be 5206.18.