Gap down of 1 % or more is expected with extremely volatile session ahead. 5200 5000 4800 may work as supports as per 5 years weekly chart .Nifty is trading well below 200 week moving average, if pull back won’t be there, more down side can not be ruled out . Be cautious … Go for intra trades with proper stop loss management . Do not carry long positions till global and domestic conditions are not ok for markets . Spot bullish and bearish waves then enter in trade . Stay logged in at chatroom dhanvarsha http://dhanvarsha.in/chatroom/ for real time updates and tips /calls .
Nifty may retest its key support 5200 5230 within 1 week ..if it is only double bottom then rebound will be there to 5500 before Friday close .Chances of pull back /smooth recovery can not be ruled out if aggressive sell off with volume below 5230 won’t be there.
Trade in NF as per these levels
Buy at / above: 5233 Targets: 5253 – 5271 – 5289 – 5308-5338
Stoploss : 5218
Sell at / below: 5218 Targets: 5201 – 5186 – 5168 – 5150
Stoploss : 5234
Gap down of 1 % or more is expected