Nifty made an upside breakout today and made the closing above 5400. The up trend in Nifty Future may continue and the next key resistance seems to be around the higher level of 5500. In the upcoming trading sessions we might see some more upside movement in it and one should focus on buy on every decline in it. The short term support for Nifty Future is seems to be around the levels of 5290 to 5300.
Sensex is forming the double top pattern on long time frame charts, so if it would not be able to cross the resistance zone of 18050 to 18150 in few trading sessions, then we might expect some correction in it. In the downside the short term key support for it seems to be around the levels of 17300 to 17400.
