Last week the bulls came with a bang and took the Sensex and Nifty to 2.5 years highs. Nifty hit new 52 weeks high of 5546 and Sensex tested high of 18475. Now Nifty will continue to face resistance in the zone of 5550-5580 and a decisive breakout above this range can take it to 5650 in short term whereas now the base on the support front has shifted to 5378-5400, and as long as this support zone is intact investors must adopt the strategy of buy on dips to benefit from the markets.

Hero Honda: It is looking very nice on the charts, it made higher bottom and ready to break its good resistance level of 1965, and if it breaks this level we can see next level of 1997 and 2020 in near term. One should take long position at 1965 with stop loss of 1935 target should be 1997, 2020.

Everest Kanto: The stock is in consolidation phase and is moving under a range of 115 to 123. If it breaks the level of 123 we can see next level of 127 and 130. One should take position at 123 with stop loss of 115 for target 127,130.

Unitech: Unitech traded with high volume from the last few trading session. It has managed to trade above the 10 days and 50 days moving averages. It is now facing resistance at 92.50 and support at 61.50. Looking positive in the coming trading session one take long position in Unitech above 92.50 with stop loss of 80. Once it manages to trade above the 92.50 it can probably go to 98-100.