Target Achieved. Look for shorting opportunity.

In the last post I mentioned that the target for Nifty is 5030. Nifty reached high of 5028. The daily trend is still down. A close above 5065 will reverse the daily trend to up. Hence if nifty trades near 5065 area tomorrow one can take a low risk short. If nifty trades above 5065 around 3.15 pm then one can close the position.

Trendz

Week: Up (Down below 4915)
Day: Down (Up above 5065)
Hour : Up (Down Below 4865)
30 Min: Up (Down Below 4915)
15 Min: Up (Down Below 4915)

4915 Provides a strong support. The daily chart shows overbought condition and one
must see a shorting opportunity tomorrow.

Pivot Point

R2 5065
R1 5040
PP 5005
S1 4980
S2 4945

Thanks