==>> Brekout pattern above 5185 levels

Markets opened up on a flattish note. In the early trades due to some operators buying in the Nifty futures kept the markets afloat till the mid session. Markets dipped marginally in the red zone, but recovered very fast. Sensex gained more than 200 points to close at 17227 up 244 points while Nifty faced resistance at 5150 levels and closed at 5147 with a net gain of 84 points. Post session buy orders might have surely created panic in the minds of the Bears. RIl gained nearly 2.5%, Bharti Airtel 5%. Nifty which was trading at a premium of just 2-3rs in the early session was at a premium of around Rs.10 in the late hours of the mkts. Bulls are trying again to make a breakout in the Nifty which is only above 5185 levels. This is the 3 time the Nifty will try for the breakout above the same. RSI have also taken support at the trendline. MACD might also show positive divergence. Breakout can only be above when the Nifty close is above 5185 levels.