Nifty today looks ok above 5571 - If Nifty trades above 5571 for more than 15 minutes
Buy for targets of 5592 , 5603 and 5617 STOPLOSS : 5556
If Nifty trades below 5565 SELL for Targets of 5534 , 5515 and 5490 STOPLOSS 5581
5535 is now a very important area as it is the 61.8 % Fibo retracement level from the high 5740 and low of 5196
The last support for the bulls is 5490, a close below 5535 would make it very easy for the bears to take out 5490. A close below this would completely change the game and give the bears an upper hand - New long term short positions can THEN be taken for targets of 5350 , 5200
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