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CNX NIFTY 5,558.70  +63.60  +1.16 %

Nifty has formed a hammer like pattern, though not a hammer in real sense since the tail of the hammer did not go much below yesterday’s low.Anyhow watch 5604 on the upside and 5477 on the lower side.A break below or above it may trigger prices on that direction.A break above 5604, may make prices test 5644 – 5650 levels.A close below 5477, may trigger fresh selling.Also watch the close on Friday, as a close below 5548 on Friday ( weekly close), will be a forerunner of big bearishness for the Markets.