5638 is strong support for nifty. tt tested this zone of 5636-5640 four times and have always bounced back from those levels. The retest has made the support stronger. nifty is also trading on a support of 20dma..The near term trend would be bullish as long as Nifty sustains 5635-5640. If Nifty breaks below 5635-5640, panic selling is likely to arise for the target 5536 & 5461(50 dma).
