Daily Chart
An Inside day pattern formed with a gap down opening which was filled up intraday but failed to rise above Friday's high of 5064.The pattern appearing after a good rise is ominous as it shows hesitant bulls to carry the rise further.The area that Nifty is trading in is full of resistances at 5064-5091-5099-5113 and the 200 dema at 5130.Till this area is scaled decisively the mantra is "caution on longs".
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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