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With global economic uncertainity at all high and US economy in shatter mode, Indian stock markets are also following it's peers and is in downward mode.
If Nifty Breaks 5466-88 level will create panic and next good support should be available at 5177 level. Closing below 5177 will take down nifty to unexpected levels. any growth above 5511 will put nifty in range bound for rest of this week. so bulls have to keep 5444-spot as stoploss for all longs.
keep this stoploss also for the longs in stock future and banknifty. If we talk about bears, who have initiated shorts have to keep 5488 as stoploss. the downside targets are 5355/5266/5177. Rest depends on how US Stocks behave today, If it ends lower then Indian markets shall remain subdued tomorrow.
HAPPY TRADING
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