The uptrend which started towards the end of the session on 13th Jan 2010 is being held and yesterday throughout the upmove was maintained. Though the retracement did not happen till 5145 levels, the expected bounce happened.
The three day pattern is pointing to bullishness again. The volume PCR has gone up to 1.38 and this has gone in favour of the bulls.
The range is widening on the top. 5301 level will still offer strong resistance and any break can take Nifty to new highs of 5385 in the near term.
Resistance levels : 5282, 5301, 5335
Support levels : 5244, 5225, 5205
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