Nifty Weekly Chart
The range at which nifty is oscillating is gradually reducing. Stochastics in weekly chart has shown a downward direction and it also shows that this could be the beginning of another dip towards 5200!. So use every rise to take short position keeping a target of 5200, Reversal above 5550.
FnO traders can short :
Bharti only at 408 for a target of 400-390
Axis bank only at 1273 for a target 1250-1225
Bajaj Auto only at 1420 for a target 1410-1390
(Above mentioned levels are spot levels. Targets are indicative, you can exit much earlier. Stop loss will be communicated in later stages)
Disclaimer: Above mentioned calls are based on my understanding about technical analysis. Please do your own due diligence before taking them.
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