A strong gap-up opening is on the cards. There Sensex is likely to pierce the 18,000-mark at the opening bell itself. The Nifty would target 5250 and 5300 thereafter. The Sensex may face some resistance at 18000 level and Nifty at 5260 before moving up in new territory. If Nifty crosses 5261 then we may see further upside move and it can come up to 5378 and above that 5488. The level of 5126 would act as an important support for today's trade. It may correct the recent rally only if it breaks 5126. The Sensex is likely to face resistance at 18200 if it crosses the 18000-mark.Open interest in Nifty Put and Call options indicate that a strong resistance is seen at 5300 levels and support at 5200 levels.
