Momentum will stay, watch follow up sessions: ICICI Direct

The market may look on the verge of drying out, but if the Nifty holds to the 5,654 levels today, it will 'immediately' march to 5700, says Amit Gupta, derivatives head at ICICI Direct.

He says that the recent pullback has been lower than the one seen previously. Keeping a cautious but upbeat outlook, he holds that the market that is trading range bound will find firm support at 5600 levels in the short term.

"The momentum will continue but it is essential to now keep a watchful eye on the follow sessions. It is possible that the next two sessions will bring a directional move,