Nifty may trade in 5,434-5,608 range.The policy inaction from the government and the probable future charge sheets and more revelations on account of 2G probe will continue to keep the market at bay and a decisive break out of 5600 levels looks tough. Pharma, I belive, is likely to outperform over the next two quarters on account of non-cyclicality and good volume growth registered by the sector. Technically, market is likely to find support at 5,450 & 5,420 levels and would face resistance at 5,550 & 5,640 levels.
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