While commenting on Nifty Intraday Outlook for tomorrow, we continue to maintain a bearish view for Nifty and now trail our stop loss for short positions to 5,275. On the down side the level of 5150 followed by 5,050 is still a valid possibility. Negative sentiment which prevailed through the month is expected to keep the market under pressure towards expiry. In an alternate case we would await a confirmation of a break out above 5,280 to explore further bullish options.
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