11/05/2012 Trading View

Nifty made a high of 5039 low of 4950 and closed at 4965 which is 9 points down from previous close.

Nifty is facing resistance at 5040 and it has formed a large upper tail which shows the weakness of the market

So if Nifty rises to 5030 it can be shorted with stop loss of 5050 for the target of 4950 and 4916

On crossing 4916 it can reach up to 4800.