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The level of 5016 is breached so stoploss on nifty future is hit now nextlevel everyone talking is or everybody knows is 4940-4930.But i would still like to emphasize taht downtrend is not formed no doubt 5165 is the biggest thorn but downtrend is not formed .Which level were support will come is difficult to tell but now we are in such a zone that trend formation is taking place .So i would hold on to longs or avoid thinking of shorts.The previous incremental behaviour of market is showing that it will find support somewhere here and break 5165 and move towards 5750.

December 21, 2009 at 3:19 AM Flag Quote & Reply

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