After witnessing considerable weakness in early trading session, Wall Street showed notable strength in the latter part of trade wherein all key stock gauges manage to finish in the positive territory amidst a day with no major economic releases. Most stocks markets in the Asia region are trading with modest gains today morning.
Post the stellar rally in the domestic bourses yesterday, key averages are expected to open on a flattish note on Thursday. For the NSE Nifty, the Critical level in today’s trade is 5492 and any further upmove is expected only if it manages to cross this level decisively. Higher to this, bullish sentiment can drive the index above its psychological level of 5500 wherein it has a strong Resistance at 5518 mark. However, if Nifty fails to move above the Critical level, weakness may creep-in and push it towards its Support at 5466. Lower to this, Major Support exists at 5438.