As we mentioned in our last edition of market outlook that Nifty will face stiff resistance around 5100 level.
Pivot 4965
Support 4921-4893-4854
Resistance 4986-5024-5049
Nifty Future was trading with a discount of about 30 points and Nifty hit a high very close to 5100 level yesterday and on Friday.
Our advise was intact and was to short Nifty there.
And the rest is history.
Nifty now again in weak zone and its future moves are very indecisive.
It may fall further or may take support near 4900.
In case 4900 is breached again Nifty must re-test its recent low of 4786.
If 4786 is not respected then Nifty must hit the low of 4550 for sure.
So fasten your seat belts for Nifty roller-coaster.
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