Trade long if Nifty finds support at 5,000:
``Trade short if Nifty fails to breach past 5,080 levels with stoploss placed at 5110 levels targeting 5,030 and 5,000 levels. Alternatively, trade long if Nifty finds support at 5,000 levels with stoploss placed at 4,980 levels targeting higher resistances,`` said Karvy Stock Broking. Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
``In the next session Nifty if sustained below 5,800, it may face correction up to 5,650. However, 5,900-5,910 may act as a strong resistance level. Traders are suggested to avoid fresh long position, if Nifty trades below this range. Banking and metals are expected to face major correction while auto and IT may stay strong,`` it opined.