Nifty weekly update

Nifty seems to be on consolidation mood, watch to the 5900 on weekly closing basis for next upsurge on Nifty and 5540 should be holding onto, to gain strength for the next bullish move to continue. Any weakness or bearish phase should start only on close below the 5300 on weekly closing basis - these are long to intermediate term views. 

For short term, expecting  the Nifty to be bearish to  test the 5700 to 5540 levels.