Though NIFTY went just above our target of 5615...it managed to come down to 5580 levels...one can comfortably go short on NIFTY if it comes below 5575 with a stop loss at 5600-5606 levels....the target would be 5520 levels...yesterday's JSW steel position would have given a benefit of 4-7 points gain for traders and the position
holds for tomorrow's trade too....expect a good sell off at higher levels and the charts were not in favor of bulls for weekend closing for the past 4 weeks...
Watch for 10480 levels in Dow as it seems to be a good resistance for intraday
If NIFTY manages to come below 5585(futures closing)...NIFTY can touch 5511,5430 on the down side....5100 put position (Oct)plays a significant role at this level
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