Nifty daily chart
In yesterday's trading session Nifty had breached previous peaks which were at 5970. Importance of this break out was very high as Nifty had tested this level many times. But in today's trading session Nifty was unable to continue its uptrend and it has once again closed below 5970 which should have acted as support. If this leads to a sustainable down trend Nifty should test 5800 .We have bought 5900 put option.
Nifty medium term trend
| Trend | UP |
| Initiation Date | 18-04-13 |
| Initiated at | 5783 |
| High since change | 6019 |
| Reversal if closes below | 5785 |
Thought for the day
Do not pray for easy life , pray for the strength to endure a difficult one - Bruce Lee
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