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NIFTY SHOW - SIDEWAYS MOVE

Nifty opened in gap up following strong pullback on last Friday.The movement then was sideways following close of today's session.Nifty gained 14 points on the cards and closed just above 4900 level.The late sell off in the markets came due to further depreciation  of the rupee.The broader market was positive with 910advances to 541 declines. We are facing a currency crunch which will be vitals catalyst considering further move of the markets.
                                       Currently markets are trading below their 20 and 40 DMA ,markets going further are expected to take a halt at 4970 and 5050 on the upside.We may enter fresh shorts at these levels as current scenario of the markets indicates further downside possible.Till then we would trade as per the indicators ,and money is likely to come on the long side.
                                                                                      In coming days markets expected to trade higher.

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