Wednesday, November 16, 2011


Nifty has not taken support from 5100 level and broken down below this level on Tuesday. New short positions were aggressively opened over 5100 level in Nifty. Nifty closed its intraday low level at 5054 after opening at 5153 level. Lower trading range is shifting to 4800 from 5000 level but Nifty 5000 strike rate put has biggest short position so far. Nifty has another support near 5000 traders may cover their short positions on this level. U.S. markets were flat on Tuesday’s session while Asian markets trading flat to negative. SGX Nifty is trading now at 5057 level almost flat. If Nifty close below 5000 level, Nifty may taste 4800 level in few trading days. New short positions may open in Sintex Industries at any rise in stock short term target is Rs 92.