Nifty Outlook 14th May

Pivot 5189
Support 5147-5121-5098
Resistance 5205-5237-5259

With each passing day punters are trying their best to bring Nifty back to bullish zone.

Two more closing like that Thursday's may bring cheers among bulls.

If Nifty closes above 5198, then fresh longs will be seen again and we may be able to see higher levels.

At present its better to short Nifty on the rise near 5210-5230 levels and keep 5244 as SL.

Although Nifty continuously failing to close above crucial 5237 level and so selling is always seen at higher levels.

ONE STRONG WORD OF CAUTION TO BE KEPT IN MIND:
"Its really very risky to carry short position in Nifty on rolling basis. Avoid rolling over shorts.
Also avoid rolling longs in Nifty."