Nifty opened gap down and then in the ended close above the support range of 5100 to 5105. Today nifty witnessed the smart recovery with the modest loss. Closing below 5100 may create more selling pressure in it. In the downside the key support seems to be at the level of 4950. We recommend that traders could go for sell on nifty future below 5100 for the target of 5020 to 5025. Risky traders could hold the short nifty future position for the target of 4950.
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