NIFTY UPDATES(22nd July)

The market is likely to open soft but from medium to long term, it is still strong and one should use all dips as buying opportunity.Support for the Nifty can be seen at 5280 and resistance at 5400-5420.
The market opens flat with a negative bias on the back of quiet global cues. Earlier, the US markets ended lower with the Dow down 109 odd points while Asia is looking quiet this morning. Sensex is trading at 17939, down 37 points from its previous close, and Nifty is at 5387, down 12 points. CNX Midcap index is down 0.1% and BSE Smallcap index is up 0.1%. The market breadth is negative with advances at 353 against declines of 360 on the NSE.