Nifty - eying 5600?

* Nifty hits the floor of the rising channel and reacted sharply. But I think nifty needs to consolidate a bit.

* Nifty can test 4875 in panic. One can go long at this level, with stop loss below 4850.

 * With some positive surprises Nifty can go up to 5167.05. Above 5180, Nifty can leap up to 5267.55.