Last week markets had a gala time on first four trading sessions but on the last day of the trading session, it almost lost all of its gains to close on a weaker note. On the higher side as of now Nifty could not sustain its major resistance range of 5600-5625. 5625 is the major hurdle for Nifty fut now above which we can expect the trend to continue on the upside for the targets of 5750/5790. 5800 level will be the next major resistance level above the levels of 5625. On the lower side if Nifty fut is able to sustain below 5500 levels we can expect the downtrend to continue and Nifty can correct up to 5445 and 5365.

So, traders can once look to book profits in long positions below 5500 levels and fresh shorts can be built below 5500 levels with a short term perspective.