Well Nifty has broken out the intraday falling trendline from 25th Jan onward, following is to be noted:
1) We need a breakout above 5400 for any bullishness, as Nifty is in a range of 5071 to 5400 (yes 5071 has been held as mentioned earlier as 3 attempts failed to break it)
2) As shown in the chart the nifty trend line falling from 25th Jan would logically be tested, if it does so on Monday, it should be around 5200.
3) So preferably we should break above 5400 on Monday opening & then test the 5200 region as we closed on a bullish note & US markets were not bad.
4) On the daily chart we have a macd crossover which is a sign markets are turning bullish.
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