Will Nifty breakout above 5400 ?

Last week we saw Nifty retesting 5160 after touching  a high of 5400.
Corporate Earnings have been as per the street  expectations and  ICICI Bank, HDFC Bank also came out with more than expected results. This will keep momentum up in banking sectors.
Going forward global cues , market reaction to RIL numbers will be key in deciding whether Nifty is able to trade above 5400 ? Nifty will gain further upward momentum if it is able to trade above 5400.
This level is also an opportunity to get rid of trash stocks.
Banking, Oil and Gas, Infra and Capital goods are the sectors which may carry the momentum up.

JP associate has support at 153 and resistances are at 167-175.


Godrej Industries  has support at 165 and resistances are at 185-190.


Sterlite  has support at 785  and resistances are at 830-850. 




Trade well