Very tricky situation.

* Stop loss for shorts above : 5185. There can be a false break out above 5166.58.


* Stop loss for longs below : 4950, yes too far.


* On weekly chart, there are long lower shadows.


* Nifty can find some support near 5010 level.

 I have attempted to present the different shades of nifty.

Visit : http://shades-of-nity.blogspot.com/