Today Nifty has broken out of this range but must give two consecutive daily close above (15400-15450) for confirmation, hence today's close will be important. If it closes at current level or higher the breakout will be confirmed.
The upside target of the breakout will be the size of the trading range and it comes to 16650. This should be the target for the month of June.
On the downside 15200 should provide good support on closing basis.
The is slowly picking up but once it crosses the 20 mark we can see the momentum pick up in this current rally, which is missing so far.