Trading Call: Sell at the level of 5590
Target of 3800 – 3200 – 2500 levels.
Previous report sell call @ 5590 is
expected to test target of 5350 – 5100 – 4850 level as 5750 is holding on
closing basis.
Nifty
if we look at the Pattern formation its getting strong reversal from 6200 level
of closing basis and if sustain trading is seen below 5500 will test it
straight to test the next rock bottom support level of 4500 where previous 2011
December bottom was seen and reversal
was seen in market. If on weekly closing below 4500 is sustain then might fall
further where 3800 to 3200 is confirm and might also move to test the level of
2500 which was 2008 year end Bottom level of 2500. There is a high probability
market will take a small support at 4500 and a short bounce might be seen but
if the same is broken then 2500 is not where in medium term.
