Nifty made the strong correction today and also made closing below the level of 5150. Now the nifty might has reversed its medium term trend and could continue the selling pressure for while. In the previous report as we had already mentioned that traders could go for short in nifty future below 5200 for the target of 5100 to 5105; it is looking to touch in upcoming trading sessions. In the downside we could see the good support zone at 5100 to 5105, closing below this support zone may drop the nifty future till the lower levels of 5020 to 5025 in near term. We recommend that traders could hold the short with the stop loss of 5205 and those who like to initiate new shorts could do below the level of 5100 for the target of 5025.
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