With today's gap down, Nifty
is about to make island reversal top pattern. If Nifty
doesn't close above 9120 in a couple of days then below 8968, bulls will run for the cover. Given the fall in US & European markets with topping out pattern and consensus of our market participants that nifty
will go to 9500-10000 is dangerous for the bulls. Market will go there when no one
is expecting it to go. Cut long positions and take some shorts with SL 9150.