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Nifty witnessed the range bound movement with negative biased & in the end closed in the red. In the downside it is getting good support close to the levels of 5350 to 5360. Closing below this support zone may slide it till the lower levels of 5300 to 5305 in short term. In the upside closing above 5450 to 5455 may lead it towards the higher level of 5500 in near run.
For trading we recommend buy on dips until it close below 5350 for the targets of 5450, 5500.
Sensex made the consolidation close to the level of 18000, in the downside the next support seems to be around the levels of 17300 to 17400. Closing below this support zone may drag it till the lower levels of 16900 to 17000 in near run.
One might expect the more consolidation close to sensex until it made decisive closing above 18150.
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