(Updated on 25-07-12 at 07.50 am)
Yesterday we indicated here that above 5132 NF would touch
5156 at higher level and in downside it would take support at 5107.
Now see the yesterday’s high which is 5153 and low is 5107
The short term trend without doubt is bearish and as long as it is not
able to close above 5187 it will remain bearish.
Break below 5118 with sustained volumes and
level for 10-15 minutes will extend more downside upto 5107-5097.
5148-5153 is hurdle zone.
After taking out this level and if sustains then expect 5168-5181
5081-5064 in panic selloff may not be ruled out.