In our view nifty has the 5360-5430 as trading range. We do not see in 80% probability this range to be broken. Our bias is flat to negative & nay bullish news will have little impact as market is overbought & may negative news may breach the downside support.

(1)SELL JINDAL STEEL & POWER on breach of  628 with 635 as stop for the target below 606.

(2)SELL PATNICOMP around 535 with the stop of 550 for the target below 500.