Yesterday, Nifty showed good strength and closed in green. Nifty is likely to open on a flat note. Nifty is trading in 5,380-5,615 zone, until Nifty manages to show strength above 5,615 or below 5,380 levels, volatility and range bound scenario may be continuing. Traders should be cautious within this range. For daily purpose, deciding trend level is 5,550. If Nifty shows strength above 5,550 levels, then rally to 5,615/5,650/5,690 levels may be seen. If Nifty does not show strength above 5,550 levels then selling pressure till 5,520/5,480-5,450 may also be seen.
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