Nifty Spot

Today's data doesn't show big optimism but Nifty is badly oversold (Crawling Oscillators).  It seems we may have another trading day ahead tomorrow, similar to the last few days. Let us see how it pans out tomorrow. Shorting is not advisable here but may be in rallies it will have to be sold. 5950-5970 is big time support as the inverted Head and shoulder neckline.  Close to 5950-5970 Nifty buying will be better for a sharp rally.  Let us see how market pans out. More on tomorrow morning.

 See Crawling Oscillators

Let us recap the inverted head & shoulder we had between Sep-Oct 2013