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/

gLOBAL Jitters !

* If 4815.56 is taken out, 5600 will be very difficult to achieve.


* If 5015.07 is taken out, nifty can rush towards 4894.63.


* Above 5176, nifty can give upswing up to 5230.


* News regarding interest rate hikes, can bring in negative effect to the market along with interest rate sensitives.

* If 5160.90, is not taken out nifty can go down up to 4173.25. Jaana tha Chin, pahunch gaye Japan.


* Intraday trading calls have been posted at http://indian-stock-pick.blogspot.com/

Nifty - eying 5600?

* Nifty hits the floor of the rising channel and reacted sharply. But I think nifty needs to consolidate a bit.

* Nifty can test 4875 in panic. One can go long at this level, with stop loss below 4850.

 * With some positive surprises Nifty can go up to 5167.05. Above 5180, Nifty can leap up to 5267.55.  

NIFTY - weekly out look.

*Weekly Pivot is 4959.55. Opening on Monday can be around this level.


*Ahead of this nifty can feel resistance near 4970 level.


*I do not expect nifty to shoot up immediately in this week. It may consolidate in the range of 4810 to 5160 in this week.


*It is an expiry week, so beware of volatility.

NIFTY - Weekly outlook.

* Last week's weekly pivot was 5093.78, and weekly closing was 5093.50.

* This week's weekly pivot is 5119.07.

* There can be some ferocious bounce once again any time in this week. It may be just for intraday or may last for couple of days.

* Intra week support can be around 5040 levels. Below this there are chances that nifty can test 4915.

* One can go long above 5127.00, nifty can face resistance at 5167.18 and 5240.87.

* Any convincing move above 5240.87 can bring in short covering. This can be the stop loss for positional shorts.