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NIFTY DAILY - UPWARD BREAKOUT

Nifty posted a considerable gains of  25 points on the cards and closed in green at  5327.The  broader market stood in the favor of the bulls with 1085 advances to 516 declines.Markets gave a sedate opening,after hovering around 5300 for a considerable time,markets took to days high ,evidencing breakout in the upward direction.It also managed to close well above 5300 mark supporting the bullish trend.                                                                                                                                                    After 3 days of consolidation an upward breakout would  help triggering the sentiments ,luring the participant to buy at these levels also.In addition the technical indicators are also positively biased, making us bullish.This rally is likely to face resistance at 5360  and 5400 going up.The 5000 levels remains a strong support in short term ,violation of this level will reverse the short term trend and the negative alternatives will open up.Also at this time markets are likely to touch  4500 and sub 4500 levels in such cases.
                                                                 Currently we need to look ahead for the targets to book our partial profits.

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