The signals for today are not clear except that the market is in an overbought territory.
5865 must act as a resistance and if this is not overcome then the benchmark index may weaken a bit with immediate supports at 5844, 5826 and 5811.
On the other hand, if the 5865 resistance is conquered then we may see Nifty rise up meeting immediate resistance at 5884 and 5911.
The short term traders may continue to add to long positions in case of a drop in Nifty with stop loss at 5764. In case if the market goes up then those who are long are also advised to buy Nifty puts as a hedging strategy with stop loss around the Nifty levels of 5998.
The mid-term investors may continue to bid ITC at 318.25 and ONGC at 317.85.
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