Struggle for bulls to take Nifty above 5500 levels has failed
and now they have to save the crucial support of 5400. The
daily trend continues to be down for the 2nd day, however
weekly trend remains up. Though 5400 level is still intact, it is
certainly under threat. A decisive break below that can take
Nifty to 5325 or even 5275 levels. At the same time a move
past 5460 can show recovery of strength. Hence we suggest a
cautious approach at this juncture. Support for the day is seen
at 17900/5375 while resistance is seen at 18200/5460.