Wednesday, 30 May 2012

Nifty shut shop today @ 4950.75 and closed below 20 SMA 4955,which is technically bearish.Nifty has rising wedge support and 5 low ema support @ 4920.One can buy Nifty around 4920 with SL of 4900.If Nifty closes below 4920,close all long positions.A close below 4920 Nifty can fall to next support around 4830 levels.(SPOT LEVELS).