NIFTY MAY TAKE SUPPORT AGAIN FROM 4700 LEVEL

Among the U.S. and EUROPE markets clues, nifty has lost around 200 points on Thursday's session. The big traders cut their long positions in the nifty future and opened new short positions in the market. Nifty option data showing that the bottom has shifted 5000 to 4700 hundred levels. Nifty was bounced back from 4720 level last time. Nifty may re-taste this level again. If Nifty brake 4700 levels, then it may have more downsides, Nifty may touch 4200 levels. JP ASSOCIATES, Short selling advised in RPOWER, RELIANCE INFRA, TATAMOTORS, IDFC, DLF, and RCOM.