Nifty is now at 5430. The Sensex consolidated its gains by further rallying 225 points on Tuesday. The gain was led by heavyweights like Reliance, ONGC, L&T and BHEL. The IIP data announced yesterday was higher than expected, which improved the market sentiment. It further helped that the European markets were also trading firm.

Technically the up move to around 5450 still exists and it could get some sideways action but however 5300 is a strong support to deal with the market strong and closed in the green. Technically the market has demonstrated strength and should continue up to around 5460-5500. Strong support 5400.

The crucial support for the Nifty is at 5400 and the target beyond 5460-5500.

Buy between Rs 382-378 for target of Rs 387-392 and stop loss of Rs 374.

Buy between Rs 286-282 for target of Rs 293-297 and stop loss of Rs 278.