Nifty Heading for 5340-5500 - Inder Bhatia

Nifty Hourly: Nifty opened on a weak note but saw smart recovery towards the final trading hours of the session, despite poor growth in industrial production figures. Nifty has taken support at a lower trendline of the channel on the hourly chart, and has seen sharp bounces. If Nifty crosses 5022, it will test our weekly key levels 5077. Nifty is trading at the lower band today. With a tight stop loss, it is heading for 5340 -5500 levels .