NIFTY HAS BROKEN CRUCIAL SUPPORT LINE IN DAILY AS WELL AS IN WEEKLY CHART. NIFTY WITNESSED HUGE SELLING PRESSURE FROM LAST TWO TRADING SESSIONS & ALSO MADE CLOSING BELOW THE SUPPORT LINE. I EXPECT THAT THIS DOWNTREND COULD CONTINUE IN NIFTY & WE COULD SEE THE LEVEL OF 4900. CLOSING BELOW 4900 COULD LEAD NIFTY TOWARDS 4750 LEVEL. NOW NIFTY HAS MAJOR SUPPORT AROUND 4750 LEVEL.


I RECOMMEND THAT TRADERS SHOULD GO FOR SHORT IN NIFTY AT EVERY HIGHER LEVEL UNTIL IT MAKES CLOSING ABOVE 5060.


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