19/07/2012 Trading View

Nifty made a high of 5190 low of 5041 and closed at 5064 which is 74 points down from previous close.

Nifty has formed a bearish engulfing candle which is a bearish reversal pattern

Any rise in Nifty can be used for shorting up to 5140

Nifty will find support at 5030-4995

Nifty can be shorted below 5100 by keeping 5140 as stop loss for the target of 5030.