DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

NIFTY  (4,544.20)       – 68.90           – 1.49 %

Nifty made a low of 4631.15  just short of the lower channel of 4505.Expect sharp short covering rallies anytime.If you are not short stand aside.Do not create fresh positions on either side.Fresh shorts can be created on rallies but only after confirmation of weakness.



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