Nifty to face stiff hurdle at 5100-5130: Reliance Money

MUMBAI: Reliance Money expects Nifty to face firm resistance around 5100-5130 levels.

���Although institutional players, both FIIs as well as DIIs were on selling side, stock futures witnessed hectic activity and added whopping more than 35 million shares to an ���open Interest���. This is suggestive of focus getting shifted to ���stock specific��� action in near term. ���Positive��� global cues this morning are likely to translate into a ���firm��� start and markets could extend ���gains��� in early trade. We reiterate, FIIs action at this junction holds the key for further ���trend���. Also the level of 5100~5130 levels on Nifty is likely to act as a stiff hurdle on the upside, whereas 4900 levels may provide a good ���support���. ���Stock specific��� actions may continue,��� the report said.