14/05/2012 Trading View

Nifty made a high of 4976 low of 4906 and closed at 4928 which is 36 points down from previous close.

Nifty has formed a spinning top candle which shows that neither bulls nor bear are in control.

Until Nifty holds 4900 there wont be further down side but on breaking 4900 Nifty can test 4805. And on the upper side 5040 will act as a resistance.

Cipla can be shorted at 320 by keeping 326 as stop loss for the target of 302.