Trends

Nifty is trading within 5160-5399 for the last 30 sessions. Good selling within following ranges:-
1- 5268-5292
2- 5315-5335
3- 5350-5387
Last friday closing is at 5278 and now next support ranges are as follows:-
1- 5225-5245
2- 5165-5210
Intraday charts of last Friday are showing genuine selling patterns therefore down move is confirm today and Nifty will test above mentioned 2nd support range(5165-5210) in the coming sessions. If Nifty sustains below 5187 then intermediate term trend will turn down and that will mean down moves from 3 weeks to 3 months. As good selling at higher levels therefore the possibility intermediate term trend turning downward has increased.
I concluded selling from last friday intraday charts analysis therefore gave Nifty F&O shorting call. This call closed in profit but profits will increase also after gap down opening next monday."
Indian markets will open gap down and close in Red after whole day negative zone trading.