Nifty at its last base line.

Most of the stocks are trading within a range as Nifty has been doing in a "4200 to 4650" range.As the index & stocks near their upper range, excitement takes over and as they fall towards the lower range, a sense of gloom descends.Unlike other markets, our market has withstood the overseas bad news till date. So Buying near the 4250-4200 area with a stop below 4200 is the normal act till Nifty breaks 4200. Though technically a sell has triggered, I would hold my shorts confidently only on a fall/ close below 4200.



There are minor positive divergences in 5-minute charts.Let us monitor the quality of the bounce and if resisted at 4400 levels & inability close above 4400 in the next two days and a subsequent fall below 4200 will confirm the downtrend.





Will the 5.week Low ema (4250) hold the falling Nifty tomorrow..?