With an up close today after an almost flat day from the beginning, has added some strength on the bullish side on the NIFTY. On continued support NIFTY will likely re-test the previous high levels. 5370-5390 is the key resistance at the moment.
With weekly chart holding very strong bearish divergence, there are chances of a prolonged sideways move. In case of weakness support is found at 5190 levels. Hourly charts have traded long above 5300 with a stop of 5250. Hold long positions for the target at resistance levels.
Trade with utmost caution as there is indecision in the market.
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