Nifty breaks out of range

• We have come out of the range 4900-5200

• FIIs have been buyers for the past 7-10 days

• Nifty VIX has declined from 35 to 23…so there is less fear in the market


If traders are looking at playing the short term momentum the trend is clearly UP and they can look at going long with 5150 as SL

5398 which we reached on 7 April has to be taken out to confirm intermediate trend of higher tops and higher bottoms

5150-5200 which acted as a strong resistance should now act as a support