Nifty may Run Into Resistance at 5220-5320 maximum 5525

Nifty futures covered more than one-third of the ground lost in July and August series, backed by six day rally in September series closing on a bullish note. After short-covering in the first three days, Nifty witnessed fresh long build-up as open interest increased by more than 17% on consistent buying. The only cause of concern is 7-10 point discount for current series which implies that the corrective bounce within larger downtrend may not last longer. Nifty is likely to face resistance in 5220-5320 level. If any magic occurs , Nifty can go up to 5525.Bank Nifty up to 10600 in rare case ??? let us wait and watch ,When signal comes I will update immediately