Following line was told in Pre-open Outlook today:-
"Nifty will first trade and prepare for next moves between 5530-5580 after flat to negative opening"
Nifty traded in first hour today between 5536.25-5578.90 and preparing for next moves and voltality is being seen within this range. Good seliing above this range and follow up selling today will mean sharp declines and follow up buying will mean beginning of fresh slow rally through consolidations above 5580.
Foundation of next moves will be laid between 5530-5580 in the coming hours today and its break out implications will be on above mentioned lines.