Another tight range day on the NIFTY today. Though it had an up close, there are multiple resistances ahead. Global markets have tanked again. We will see another gap opening on Monday. Will the fall hold to 5200 support is to be watched? NIFTY has gone into non-trend on the Daily charts. Immediate range is 5295-5190; a decisive break in either direction will determine the future course.
Two good shorts
ABB, short below 744.80 with a stop of 857.50 and trail the position.
RANBAXY, short below 431.65 with a stop of 462.90 and trail the position.
Bothe the calls are long term bets based on the weekly charts.
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