Tuesday, May 22, 2012

4955 is next huddle for Bulls

Nifty has closed with shooting star in today's trading, which is often consider a bearish sign. As global cue is positive till this writing, Nifty may open positive and try to touch 4955 to 4960 level. But sustaining above this level would be very tough for bulls. If closed successfully above this level then 5000 would not be a problem. I would prefer to short Nifty at 4955 to 4960 for a target of 4920 then 4900.

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