Great Bhalooji gave one level of Nifty long back, that is 5479 as a very important one. Despite of good rally in US market, nifty did not go above 5477.50. I was having overnight short position in Nifty, and still have short position. I added more short at gap up, and covered it at lower levels. Stop loss for pending short position is 5485 spot.
* Last week, 5345 was not breached. Nifty showed good bullishness.
* If the positive break out in Nifty is not a false one, Nifty can immediately hit 5499.87.
* If it is a false break out, Nifty can go down up to 5375.97.
