Nifty future seems to have closed above 5400 an important level, all the bear traders have almost vanished from markets and fresh long positions are added on Nifty future April series. Traders are looking for buying opportunities ahead of interim budget announcement; current sentiment in market still remains Risk-On type. Defensive stocks are now underperforming most of high beta sectors like realty, infrastructure and banking sector. Nifty future has technical support at 5200 level and some resistance near 5440 level on charts. We also see 5400 level is 50% Fibonacci retracement level of 2010 high to 2011 low, so nifty future facing resistance there is normal. What traders should look at this point is fundamental news like trade deficit, Inflation figures, PMI, Interest rates decision, GDP figure and IIP data. As technically nifty future is extremely strong and now there is no doubt that direction is northward, upside boost will follow only when market fundamentals come intact with technical. If we look at mechanical indicators then RSI is firmly above 50 on weekly chart hence confirming us that nifty future is bullish for medium term. Moreover rollover for April month series was much higher, again states that market are going to follow up move this series as well. Nifty future traders should trade long on nifty future at 5400 for immediate upside target of 5600 level. Placing your stop loss orders just below 5350 level, this trade is again very good setup as risk reward ratio here is 1:4, so trader is risking just 1 point for every 4 points gain.