Nifty also breached our mentioned important support level of 5153 and closed below the same.
It simply signifies that Nifty is heavily under selling pressure and is bound to fall further.
If traders remember our advise in the beginning of the month of April where we continuously stressed that Nifty will fall and result season will be full of negative surprises.
We advise to short on every rise and our avid followers must have minted a lot of money.
Today Nifty have important support at 5074 and at 5041 levels. If these levels are not respected by the punters then we will surely test 4925 level or even 4870.
Its better to pack your bags and say goodbye to long positions.
| Important Nifty Levels for 5th May | ||
|---|---|---|
Nifty Pivot | 5149 | |
| Support | ||
| 5101 | 5074 | 5041 |
| Resistance | ||
| 5162 | 5199 | 5221 |
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