Nifty is trading well below the short term crucial level of 5080. Unless it trades above this level, the short term trend in Nifty would remain bearish. Below 4940, the next short term crucial level for Nifty is 4750-4800 levels.
Wednesday, January 27, 2010
Positional Trade-Sell Nifty Futures,stop 5080, target 4800
27, January
Nifty is trading well below the short term crucial level of 5080. Unless it trades above this level, the short term trend in Nifty would remain bearish. Below 4940, the next short term crucial level for Nifty is 4750-4800 levels.
If Nifty fails to move above 5080 in another 3 trading sessions, then it is likely to decline towards 4800 with in one week. Positional Traders can short Nifty Futures around 5020 with a stop at 5080 for a target of 4800. Above 5080, exit your short positions.
Nifty is trading well below the short term crucial level of 5080. Unless it trades above this level, the short term trend in Nifty would remain bearish. Below 4940, the next short term crucial level for Nifty is 4750-4800 levels.
