Despite a negative opening Nifty managed to edged higher as the sessions progressed. It concluded a range bound day of trade with a gain of 36 points at 5944. We continue to maintain a view of selling on any rise. It is now near the ideal level to short and one may sell Nifty at present level or on any rise of 10-20 points with a stop loss placed at slightly above 6000 level. On the downside the level of 5877 is now an important support. A breach of that may bring in further weakness which can drag it down to 5795.
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