The close on Friday after the freak trade to 5000 left the index at the edge of it's most two recent ranges and in- between both of them.
I've taken the liberty of cancelling the tick to 5000 and we see Friday's low as 5248 in the chart above.
Up above 5312 represented the lower end of the range from 18/04. 5332 was the swing high of last week.
The close kept the index above the 9th Apr to 17th apr value area just ahead of RBI day. On Monday an acceptance above 5312 will send the index through the upper balance area and maybe to 5362 with a test at 5332 in between.
On the other hand an IB created below 5312 has a great chance of seeing 5216 later in the day.
The POC for Friday was 5336.
The key level to the BN trade next week lies at the 10430 level. Acceptance below 10430 may start a bigger correction.