Markets opened by week, but the post lunch session helped the markets close in green. Nifty closed up 23 points at 5134 after making a low of 5084. Sensex closed at 17189 up marginally by 64 points. Nifty chart shows that its is been trading in a very narrow range and in a two parallel trendline. RSI movement is in a triangle pattern. break out either side will decide the further movements. Likely movement is upside. MACD will too give a positive divergence. IIP data expectation are very good, that may lead to breakout pattern in the upside movement. Nifty is likely to cross the 5185 levels. Breakout pattern will be above 5185 only. Close above the same will take Nifty to 5300 levels. Support at 5050 levels. (Watch the Nifty chart)