The bias for Nifty continues to remain positive till the time it trades above the level of 5,220. It has short term support placed near 5,295 level, thus any decline should be arrested near that level if the upside trend has to continue. Only a breach of 5,295 would be the first sign of weakness and the upside trend for immediate term would be negated only if it breaches the level of 5,220. However till the time it trades above 5,220 the bias remains positive and a breach of 5400 would confirm further upside till 5,540 and higher.
