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Nifty closed above its resistance of 5050 levels

Positive global cues and good IIP data helped our market close a good session of trade today . Sensex closed at 17026, up 384 points and Nifty at 5054, up 109 points from the previous close. CNX Midcap index was up 1.57% and BSE Smallcap index was up 1.05%.Nifty gainers included SBI, Reliance Infrastructure and Reliance Capital while the losers were Ambuja Cement, GAIL and Hero Honda.
Bears cover there 13L positions in 5000 CALL,may be because of holiday tomorrow.