Sensex:

SENSEX  did managed a close above 18369 and closed exactly at 18439 which is the precise level of trendline resistance shown on last Friday it will be very interesting and crucial if sensex is able to cross yesterdays high and trades above it consistently for first 1-2 hours and if that happens it will be good for short term bulls.

On the down side the ema band between 18300-18345 and a high at 18368 should act as support.

NIFTY:

We mentioned here that it will be positive for short term if nifty closes above 5531 and nifty managed to close exactly at 5531.

For further confirmation of bullishness nifty must trade above 5531 for 1-2 hours today if that happens one can go long in nifty for short term with targets at 5609-5658.

On the down side there are good supports in the forms of ema band which is placed at around 5481-5498 area. And we believe that to sustain this bullishness nifty must not close below 5442 if nifty closes below 5442 within 1-2 days it will have negative impact.