There are fair chances that Nifty will bounce till around 10,600 mark

The last two weeks have seen a recovery in index values and the Nifty has pulled back into what looks like a trading zone. The Nifty has pulled back above the 200-Day Moving Average (200-DMA) and it has successively tested higher resistance. 

This could still be a dead-cat bounce, but there are fair chances that the Nifty will bounce till around the 10,600 mark. The pullback above a key resistance at 10,275 has pulled the index back into what is likely to be a trading zone of 10,300-10,600. 

On the upside, the index would first, have to move above 10,450 to establish