In the new series, Nifty spot has opened at on 4979 and made an intraday high of 5024. After European market's indication, Nifty has wiped of its all earlier gains, made an intraday low of 4926 and settled on 4943 levels with the loss of 72 points. Take a look on the hourly chart of Nifty it indicates that 5035 is a resistance level for Nifty, which became stronger now. So many gaps are on the chart that shows higher volatility in markets. Volatility index rose 2.8% and closed on 31.94 on Friday.Maximum short selling has been occurred on 5200 strike rate's call.MACD is also giving a signal of downside. U.S. markets fell more than 2% on Friday's session. Asian Markets trading lower in early session, Hang sang is down around 3.5% in the morning, while Sgx Nifty is trading on 4875 levels, around 55 points lower than previous close. A crucial support on 4900 for Nifty, More shorts selling is expected below these levels in Nifty future. Short selling is advised in Nifty Future and 5200 strike rate's call. More shorts can be added after taking indication from European markets.
