5558 continues to be the deciding point for the medium term trend; it did hold in yesterday's session.
The market looks like it is in an oversold territory and may show an up move in the face of the impending settlement tomorrow, yet the charts continue to show bearish signs for the immediate sessions.
5615, 5625 and 5640 must act as the immediate resistances whereas 5606 must be the immediate support for the day, which if breached, may see it go down to the 5564 mark.
However trades above 5640 will see a bout of short covering and will raise the index further to 5666, 5697 and 5711.
A breach of 5558 will see it slide to 5519 and 5468.
Short-term traders may keep these points in mind while taking positions in F&O for the next month
Medium term investors may continue to bid at the following prices in small quantities.
HDFC Bank- 622.15
ITC-309.7
SBI- 1871.3
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