The market did manage to stand above the resistance of 5158 in the very opening sessions and so the Nifty did behave in the expected lines of taking a shot at 5227. If the Nifty manages to hold above the closing of last week i.e. the 5215 mark then it may overcome the immediate resistance of 5265 and go towards 5315. The immediate support is at 5165 and then 5110. A dip below 5110 will see the return of bears as new shorts will be built. However the outlook for the next week is consolidation with a bullish bias.
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