Nifty may stagnate around 5100-5110: Devang Visaria

ET Now spoke to Devang Visaria, Chief Strategist, devangvisaria.com on his outlook on the market.

What are you seeing on the charts given yesterday's last hour pickup. What is the sense this morning?

Devang Visaria: Today is likely to see some kind of stagnation around 5100-5110 levels. For the last three sessions, you have a pattern called three white soldiers, if someone is following the candlestick charge.

Slight overbought condition but not much cause for worry. It is a good sign if it just stagnates around 20-30 point range and consolidates the past few days' gains. You are likely to see much of stock specific action rather than some index action.