Nifty Daily Chart

there is no significant change in daily chart except that selling is happening at higher levels. Attempt to cross 4900 was not successful and this attempt was followed by sharp fall. It was a volatile day.

The trend of the market is clearly down and the very short term target is 4800-4770.

Don't be in a hurry to enter into long position as we may see further fall.

I believe there are no good stocks or bad stocks; there are only money making stocks. So there is no good direction to trade, short or long; there is only the money-making way to trade - Jesse Livermore