Update as on 25 Feb’13

Nifty as on 25 Feb’13

Even in my last update, I told you Nifty is not ready to move below, but does that mean it will move higher.  Trust me chances are 50-50, so we should better focus on the way where it breaks. In last session Nifty made a spike low of 5822 and closed above even in intraday, I asked to go short below 5835-5830 level only, but unfortunately, price point just triggered and moved higher.

I am getting minor positive clues, subject to prices Nifty should not give weaker close now, and ideally should not move below 5822, which will give us more confidence to turn mildly bullish again.

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