Although US markets slipped from intraday higher levels and closed flat but Dow's Futures is more than 45 points up since opening today and sentiment maintained ahd all the Asian markets are marginally up/down today morning.
Sentiment is already strong after yesterday strong rally and no damage from global cues therefore Indian markets traded positive since opening today. Nifty is trading between strong resistance range 5130-5220 and good consolidation at lower levels as well as trding above the "neckline of Inverted Head & Shoulders(Bullish) Pattern of last 30 days". Firstly sustaining above neckline and then crossing 5220 will mean strong rally after 30 sessions consolidations.
Don't be bullish immediately and just watch sustaining above 5130 and then crossing of 5170 for next signal of upmoves. Sentiment turned good today morning and in such heated situation profit booking may also be seen as well as Nifty retraced 3 times earlier from 5120-5220 also therefore firstly watch sustaining beyond 5120-5170 for next moves confirmations.