* Last week's weekly pivot was 5093.78, and weekly closing was 5093.50.
* This week's weekly pivot is 5119.07.
* There can be some ferocious bounce once again any time in this week. It may be just for intraday or may last for couple of days.
* Intra week support can be around 5040 levels. Below this there are chances that nifty can test 4915.
* One can go long above 5127.00, nifty can face resistance at 5167.18 and 5240.87.
* Any convincing move above 5240.87 can bring in short covering. This can be the stop loss for positional shorts.
