Daily Chart
The Nifty broke out from the earlier high of 5413 to make a new high of 5423.The strong resistance of 5439-5455 needs to be crossed, a level which has already been crossed by the Bank Nifty. 5439 is the 50% retracement level of the entire fall from 6338.Watch this area to assess the strength/weakness of the trend.Strength above it will open further upsides and a failure to cross it will have the bears winning.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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