Looks to be a narrow range morning session where the high value node at 5218 NF should put up some resistance for the Nifty.
On the downside 5174 and value area high at 5182 are initial supports.
Nearly 2 hours of trading have passed and the Nifty has traded a narrow 24 points so far. We had called for a high in the first 90 minutes and so far 5209 made around 9.30 is holding out as the high of the day so far.
Another piece of information the market is giving, is the less than average volume so far.This implies that major participants are on the sidelines and the market may move in the afternoon session if they return.