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NIFTY SHOW

Nifty closed in red giving off 49 points,overall market breadth remained negative with mere 393 advances to 1115 declines.The market opened with  gap down  and rose a bit to cover the gap but it could not sustain at the highs  and then gave off. Whole day movement was quite sluggish but weighted to the bearish side ,later the market dipped into 5170 levels following a small bounce,eventually closing today's session.
                                                                       Still the nifty is holding above the dynamic levels and market sentiment is gradually turning vulnerable.In such a scenario the indecisiveness peaks up.Following the expiry nifty is expected to pick up some momentum ,but in what direction is still a matter of suspicion .The MACD indicator is below the sub zero levels ,including the momentum indicator RSI which is now about to enter below 40 levels adding more weight to bears.

Key upside levels :-5214 and 5372
Key downside levels :-5080 and 4870

In case of the breakout these levels hold significance on their respective sides,Hence watch out for these levels and take positions accordingly. After these levels are successfully surpassed next key levels will be displayed accordingly.

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