NIFTY Channel and Range

• Nifty continues to move in a channel.
• Hour chart also shows support near 5090 and 100 Hour SMA. There was spike below 100 Hour SMA but it was not broken on closing basis. So for bears hour closing below 100 Hour SMA Will be the first warning and close below 5090 will turn things in favor of bears.
• For bulls they have to break through the 5180 - 5200 zone which looks unbreakable. Bulls has to break it on closing basis to confirm a breakout.