|Nifty near make or break level.
Nifty opened with downward gap and ended with a loss of 39 points at 5306. Amongst the sectoral indices the BSE CG and CD indices were the outperformers whereas BSE FMCG and Auto indices lost the most.
After the upside thrust posted in yesterday’s trade nifty was unable to scale higher and ended with a loss of 39 points at 5306. It is now near a make or break level. Though we maintain the upside target of 4400 till the time Nifty sustains above 5260, any breach of 5260 would negate the bullish view and inflict further downside till 5200 and lower. Thus one must remain cautions with a strict stop loss of 5260.