NIFTY SHOW- NIFTY AFLOAT 200 DMA

Nifty opened gap down in the  morning on account of weak global cues ,it violated the 200 DMA went down to 5136 and took of the lows gradually  to 5178 closing today's contract.the market breadth was positive with 844 advances to 637 declines. As it is due to expiry the markets were to remain subdued ,the global markets did the work of  adding oil to fire.Nifty  has maintained the 200 DMA levels as of now ,but under such a situation, the immunity of the market seems vulnerable.Hence on account of this we should allow some leeway to nifty.
                                                                                                                            Coming days nifty is expected to trade lower to sideways,unless we get a valid breakout from the key levels trend of the markets would not be justified.Trading on intraday volatility will be apt to play with until the fog diminishes giving clear visibility of the road ahead.
                                                                                      If the Dynamic 200 DMA level is violated  then nifty is expected to trade lower taking  support at 5080 which is 50% retracement levels of the previous bull rally.Thereupon nifty might break out of the falling channel  leading nifty to sub 5000 levels of 4950 and then 4760.Now the second side of it, if nifty successfully sustains the dynamic levels then the positive alternatives will open up ,where at 5500 it is likely to face a resistance.
                                                                                                                                                            So seeming equal probability of the either side but slightly biased toward the bears, it will be apt to wait for few days for confirmation  before entering into any positional call on nifty.