Nifty outlook and levels for 16 Aug 12

5 days 60 minute chart is showing that how nifty smoothly turned its direction , now trading in upward trending channel support line is moving up at present it is at 5355 ..stay long above 5355...channel range 5355- 5410 5430  for today

Flat to positive opening is expected with slightly bullish sentiments .stock specific moves will be there . 
Trade in Nifty futures as per these levels
Buy at / above: 5420   Targets: 5436 - 5454 - 5473 - 5491
Stoploss : 5402
Sell at / below: 5402   Targets: 5386 - 5368 - 5349 - 5331
Stoploss : 5420