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Wednesday, May 19, 2010

NSE - Nifty Tips

Nifty witnessed a huge correction today and made the breakout of the downside support base of 4950 to 4960. Today in the end it also made closing below 4950 which means that this down trend could continue and we could expect more selling pressure in it. In the downside two crucial supports are 4830 & 4770. We had already recommended in our previous reports that one could go for short in nifty future for the target of 4830. Those traders who like to initiate new shorts could do it below 4900 for the targets of 4830 with the intraday Stop Loss of 4950.

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