27/04/2012 Trading Views

Nifty made a high of 5215 low of 5179 and closed at 5189 which is 13 points down from previous close.

Nifty has made a inside candle which shows the market is trend less. As today the new F&o contracts are beginning we can expect a trend formation . As the futures OI got reduced be cautious that down side is expected.

Nifty will find resistance at 5245 so one can short Nifty by keeping 5245 as stop loss for the target of 5180 , 5130 and 5070.