NIFTY is moving in a range of 5700-5900 at a broad level over past few days. The rangebound trade may continue for some more time. The next resistance is coming at above 5900 and the immidiate support is at 5600. Which way it will turn?
Nifty is moving in an up trend line at long term level and long term trend line support is seen at 5400. Nifty is still some level above that, whereas it is hovering at around 5900 and may breach it any of these days. The chances of Nifty going up are relatively more than it going down, ceteris peribus.