Nifty has breached the 5900 in the downside and this level is going to play a crucial part for the short term. If Nifty sustains below 5900 for another 3 trading, then the short term trend of the market would remain bearish till it tests 5550.
On the other hand, any bounce has to come from this levels. The first indication of bullishness would be the crossover of 5950 in coming trading sessions. Otherwise, as of now, the trend remains weak for the short term.
For positional trading, 5950 is the stop for the shorts and 5850 is the stop for the longs. Trade accordingly. Since Nifty is likely to see a one sided move in coming trading sessions, positional traders should protect their positions with stoploss.
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