Nifty Position for 25th August 2010

Nifty in profit booking mood after its continued positive trend . Market is still looking bullish and will continue the bullish trend until Nifty sustains the short term support level of 5480. So one can buy it on dips until 5480 is sustained. On the upside, short term resistances can be seen at psychological supply zone of 5600 and 5650.