NIFTY at the lower level charts, shows a rounding off. However, a reversal swing is not seen, which I consider, if a convincing move below 5068 happens on the hourly chart. That could be an indication of a reversal. On the daily scale, both on the spot and futures, the caution level (5099) is hit. Probably, this is the time to reduce the position for those who have large lots LONG. I am not “Injecting a Bearish Mind” to any, but advising to be cautious.
The critical Intraday levels for tomorrow are…
| 5158 | 5145 | 5130 | 5111 | 5090 | 5077 | 5064 |
The Critical level on the daily scale is at 4975 and on the weekly scale 4900.
