Flirt With Nifty

NIFTY: 4161.25
Nifty, from the bottom of 3799 rallied up to reach retracement target of close to 4325. It has been falling since. In this fall, it very important for it to hold the crucial support level of 4051. Any close below it is likely to open up the possibility of the previous low of 3790 being violated to fall upto 3715 - 3525 range. From a trade perspective, one can buy the fall upto 4050 with a strict stop loss below 3990. The buy position can be sold out at a profit at 4146-4206.Once the Nifty starts closing below 4050, we can also consider a opening a short position and add further to the position on a close below 3990.

Happy Trading.