• Major support - 5,460 (21 day MA)
   
• The index has declined till 5459  yesterday and slightly recovered from that level.It is currently trading around 5,485.
   
• Short term trend is bearish as long as the support e 5,540 (daily Tenken-Sen) holds. 
   
• Any break above major resistance 5,540 will take the index to next level till 5600/5625/5,672 (161.8% retracement of 5,431 and 5,041)/5,700 in the short term.
   
• On the lower side, support is around 5460 and any violation below that level will drag the index till 5400/5440.
  
  It is good to sell on rallies at 5500 with SL around 5,550 for the TP of 5400.