5030 or 4950 would be the level to watch out for a bounce back, 5 May 2010

The level 5030 or 4950 would be the crucial levels in the downside to watch out for a bounce back. Though, the Nifty is looking very close to a major top, the next 10 days Nifty could see a short term rally towards 5200 or 5250.


Short term traders can trade long if the level 4950 is not violated in another 3 trading sessions.