Yesterday's pattern was almost a repeat of the previous day's pattern and bulls took control right from the beginning. Nifty broke all key resistances including 5085 and closed strong above that level.
Though market is getting into the overbought region, options data is indicating further upmove from this juncture.
If markets consolidates around the level of 5050 for a while, then the next leg of upmove could be intense and momentum is also likely to kick in at that stage.
Resistance levels : 5105, 5126, 5145
Support levels : 5070, 5056, 5032
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