Nifty Updates for May 16 - Bang On! - Inder Bhatia

Hourly Chart: The Indian market opened bang-on and closed near the day's high. Above 5040-5080, a big move could seen. Nifty is trading in a channel band and is heading for the upper band of 5340, but before this will pause near the 5220 zone. On the lower side, 4930 will act strong support zone . We could see some action in the banking and power sectors.

Hot Stocks: Bank of India and ICICI Bank.