Nifty will open a gap down, now the level to watch is 4641, if this is not breached, we will bounce up, so go long with sl as 4641(intraday).
i feel that after a gap down nifty will recover 50-70 points, so one can take risk with less exposure.
now in case 4641 is broken, positional shorts can be opened with targets of 4481.
nifty is definately in a bearish phase, and i prefer to short at rise than to go long.
