Active traders already realize that the short term trend is up. If you are a short term trader, then most momentum methods have given a buy signal, yesterday itself. More interesting is the immediate future: How long will this trend last? Well, in the Nifty, we have minor resistance at 5020 and significant resistance around 5165. These are the two levels where the short term trend can face difficulties. There is the possibility that today may have been the top of a one half day rally. If the market consolidates tomorrow, then a move towards 5020 and higher is possible. Therefore, a buy on dips strategy remains valid until today's low - 4906 holds. This may be considered as short term support.