Nifty View: A disappointing close for the benchmark Nifty index in today’s session as it slips over 100 points from its intra-day high of 15,811. At an intraday low of 15,657, the index yet again tests the short term support range of (15,650-15,700). Clearly, this has proven itself to be a crucial level for the short term time frame. A break and sustained close below this support ones up further downsides. On the upside, the index now needs to deal with multiple resistances - first (15,800-15,820) and then (15,900-15,930). It’s a better strategy to stay cautious this week and focus more on risk management rather than chasing profits.
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