Market seems to be in a state of eerie calm before the 'tempest'. Nifty is treading dangerously below 5200 on closing basis. On the upside, market may find it difficult to surpass 5240 -- 5270 zone.

Nifty is precariously poised at current levels. On the downside, 5150 -- 5175 zone may be tested.

But for the RBI Policy on Apr. 17th, Nifty could see resistance in the range of 5300 -- 5325.

With earnings season ahead, it will be interesting to see how the markets will pan out?
A close above 5450 or a close below 5250 with strong volumes should see the beginning of a new trend.