• Major support   - 5490 (21 4H MA)
   
• The index has slightly declined after making a high of 5550. It is currently trading around 5505.
   
• Overall trend is bullish as long as the support 5435 (55 4H EMA) holds. 
   
• Any break above major resistance 5550 will take the index to next level till 5600/5645 in the short term.
   
• On the lower side, support is around 5490 (21 4HMA) and any violation below that level will drag the index till 5465/5440/5390.
  
  It is good to buy on dips around 5470 with SL around 5435 for the TP of 5550/5600.