Nifty as expected has closed below the 5480 mark and now it may be little bearish for the short term, we can expect further correction up to 5450/5420/5380 levels. Below 5380 we may expect further downside movement to 5350-5250 levels . 5540 is important resistance area on the upside.

Bank Nifty Future has closed near the day’s low at 10947.10 and one may expect further downside up to 10800-10600 in coming trading sessions. Strong resistance in Bank Nifty Future seems to be around the levels of 11200 . So one may go for sell on rise strategy in it until it close above 11200 levels.

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