The market had taken a time of 23 days to fall from 5310 to 4675 levels. However, when it recovered it reached to
only 60% of the entire fall to 5150 levels in 22 days. Today is the 23rd day of the recovery and "if it fails to move
higher today" then it may result into weakness and might come under heavy profit taking in the short-term.
For the day, we will watch 5080 and 5150 levels to design our trading strategy. Sustenance of the Nifty above 5150
will lift the market to 5190/5220 whereas, breach of multi support area 5080 will push the market lower to 5030 levels.
