Nifty has a strong positive breadth in the market on Friday. Nifty has developed a support area around 5336 and it is holding it up well. Based on the market breadth, Nifty can break current resistance level of 5419 in next couple of days.
On weekly graph, Nifty had a doji with high volume and we may see little reversal. Both are different ideas. But again we need to take one day at a time here.
Big caps had a down days but most had Hammer setup which is strong and most had light volume than last 2-3 days which is not a negative sign.
Still looking for low risk long positions, which will be hard to find at this stage.
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