Nifty: Daily
For the day we may see the gap up opening on the back of strong global cues. As we mentioned on Thursday we may
come across sharp bounce back today, however as the market is in medium term down trend traders should be cautious
while entering into trading long positions around 4890/4900 (16560) levels as failure to breach these levels may invite
fresh short sellers. In case the market extends its pull back and able to reach 50% of the fall, which is at 4960/16740
levels then it will neutralize the pain of the current fall and may minimize the down side for the market.
