As i told before , nifty should touch 4500-4600 levels onwards. so any bounce back (near about 5600) will be get good opportunity to taking fresh short position .
But question is what will be the longer term direction ?
At last i got the answer according to me , which is --we may see some kind of trading range from 4500-4600 levels to 6300 levels for few months so either side breakout will get clear direction of the longer term trading chart. so u can buy near 4500-4600 levels and sell near 5900-6100 levels then will stay away from the market . And weekly chart indicates Double top near 6300 levels which is longer term bearish pattern , daily chart indicates Cup & Handle pattern ---bullish pattern so we have to wait for further direction .
------Above 6350 tgt. 7200 levels--10000
------Below 4500 tgt. 2200--2400 levels ( after bounce back as i indicated in chart ) .
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