The short term trend in Nifty is looking bearish and if it fails to sustain above 5110 in another 2 trading sessions would confirm a short term decline towards 4730.
And further, if the level 4730 is not held in coming trading sessions a vertical fall is likely below this level towards 4000 in coming weeks. Positional Traders can remain short below 5110 for an initial target of 4730.
Instead if it trades above 5110, then it could test 5200.
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