Y'day nifty closed above 5035....I am expecting this rally to end in this area...(30/40 points + -)...5182 is major resistance...
and before that 5120 is important ....
For Tuesday....watch nifty @ 5090/5117...see if there some weakness/profit taking happens or not....I suggest...if not taking short position ....ok...but dont go long....
On Tuesday nifty has to trade above 5067 entire day for continuing this rally with strong momentum.....and if trading below 5043 then it is sign of weakness in broader sense...and if close below 5043 then exit all earlier positional long if any..
For Tuesday I suggest..
RANGE--5043....5067----5067....5090----5090...5120
BIAS---negative
STRATEGY--go short near 5090/5120....sl...5120...5145
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