Nifty

Nifty – Last Close – 5761.35 [26-Feb-2013]

*Yesterday Nifty closed below 5820 mark which drive us to look for alternates.

*Overall no change in the broader picture [TGT 6338 – 6500 or more] only thing to consider is where the short term trend will end.

*Key retracement and crucial support levels are placed at 5820 – 5700 – 5650 – 5540.

*As the fall is counter trend and also more complex so we could not say where exactly it will end (Falling Knife).

*And also we are in major events week which leads high volatility, once the things settle down then we will get clearer picture.

*Incase we close above 5820 on Friday (Weekly) then earlier view intact and yesterday’s close was bear trap.