Nifty made a high of 5520 and low of 5453 and closed at 5482 from the previous days close it down by 5.75 points points , for the past two trading sessions Nifty is consolidating.
Now the major level to watch for nifty is closing below 5470 will take the Nifty towards 5330. and in upper side 5555 to 5590 area will act as a resistance.
Short term trend : Range bound (5450-5555)
Medium term trend : Bearish
Short STER in between 159-162 with stop loss of 165 for the target of 154
Short BAJAJHIND at 69.5-68.5 with stop loss of 70.6 for the target of 65
Short PUNJLLOYD at 71 with stpo loss of 73 for the target of 66.5
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