Nifty has been forming doji pattern for the past two days and is consolidating near the range high. The retracement has not been much in the two days and the bear trap made at 5225 levels couple of days back still holds good.
The key levels remain the same and there is a higher probability of Nifty to break the 5300 barrier again and go for a higher close soon.
The volumes have started to slowly increase and any breakout of 5300 levels at this stage will bring in the required momentum and a push towards 5380 levels.
Resistance levels : 5295, 5324, 5365
Support levels : 5270, 5248, 5225
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