Hi,

I maintain my outlook about markets being in overall positive trend. However, I gave the supports 5840/5816. 

As you saw, markets did justify these two levels for two days. I would like to point out that my levels of supports (Supp), resistances (Resis) & targets (TGT) would be approx +/- 5 points of actual levels. this is what I have seen in these years the Proximity of my levels & views.

5816 is a Multi-supp level. In technical analysis, we call it as the Average Price (wvap)

My view is today's up-tick was on back of the RBI move. Also one of the indicator of RSI showed the bottom level from where they had to close above. Still, 5927/5934 are crucial resis level to break for markets to again make a new high. Also, the up moves now should be complied with increasing volumes too. One major indicator is MACD, which is on the verge to give negative divergence. But yet to be seen.

All these levels are either intra-day or closing levels, but mostly closing prices.

Resis - 5927 / 5934

Supp - 5865 / 5816

Happy Trading .....