Markets rallied over 1% as they cheered the ruling congress party’s ally (Trinamool Congress) victory in the key state of West Bengal which may strengthen the image of the graft tainted government. The S&P CNX Nifty closed 58.60 points or 1.07 % at 5544.75.

The Nifty futures closed and settled finally at 5558.90, up by 77.55 or 1.41 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5625 else below support level of 5465 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5625 & above this level the next resistance is seen near the 5730 mark.

SUPPORT: It has first support close to the level of 5465 & below this level the next support is seen near 5385 mark.