Nifty is trying its best to create a new high over 5750 but even if it creates the chances of sustaining at upper levels would be very less as the cash in flow levels have exceeded the upper levels.As per technical charts when there is a negative divergence one should square off the long positions and wait for a better entry point. When the momentum is so strong traders usually wait for a dip to create long positions and no need to get into trap by creating short positions. As i was mentioning in the previous posts traders should book their long positions in banking sector and look for opportunities in metal sector at lower levels. In the commodities market one should have a careful look into the reversal for copper as it could be a catalyst for metal stocks in Indian equity market. Dollar/INR has breached a decent trend line support and it is not maintaining higher tops and higher bottoms scenario and any bounce back to 54 levels could attract lot of selling pressure. The broader range for the month could be 5630-5850.
