yesterday, nifty was flat for the most part, but surprised all with a rally led by RIL & SBI( i thot they cud be weak for the day).
nifty crossed my upper target and cooled off a bit.
today nifty can open around 4611, and only on breaking this level, nifty will be weak.
and can fall to 4589 - 4549.
however if nifty crosses 4640 again in the day, it can rally up to 4705.
well i have been advicing on positional shorts, and myslef holding the same.
4705 is our SL on closing basis for all positional shorts.
Nifty has huge resistence around tht level, and downside is expected from there.
