The blog readers might have noticed how our advice on playing on the short side helped them profit from the market. (click here to confirm yourself)
Now that the crucial support of 5770 has been breached, if the Nifty does continue to trade conclusively below 5770 in today's session then we have a confirmed short-term bear market with all out weakness.
If the Nifty trades above 5787 then we may see a bounce back with immediate resistances at 5791 and 5817.
However, below 5787, an all out weakness may see it drift down with supports at 5714 and 5674.
Intraday traders may play on the short side.
Mid term investors may bid HDFC Bank at 614.60 and ITC at 343.05
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