Nifty View: A disappointing close from the benchmark Nifty index in today’s session - down 85 points to post a close at 15,734. This fall reverses the short term trend of the index DOWN and back to the support zone close to 15,650 which has so far worked well to hold up most sell-offs. Now, will it be able to hold up the index this time? My guess is as good as yours, but considering the higher time frames and the manner in which average prices have slowly tilted down, the possibility of some more weakness is very likely. As suggested before, this is not the best of times to go bullish aggressively, let’s wait out for a better price and opportunity.
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