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. WE ARE EXPECTING THAT THIS DOWNTREND WILL 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.
WE RECOMMEND THAT TRADERS SHOULD GO FOR SHORT IN NIFTY AT EVERY HIGHER LEVEL UNTIL IT MAKES CLOSING ABOVE 5060.
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