Nifty ANALYSIS

Nifty Dropped heavily from 6358 and has made a low of 6175 till now. The Weekly channel has broken down - which is likely to lead to more falls.

 EOD belowWeek LEMA - (6161 - with present low of 6171 - would change if another low is made)  would weaken Nifty Further. An EOW above week LEMA possibly would prevent a swift fall.

50DMA is at 6190 - which may lend a support for the time being. EOD close below 50 DMA would weaken Nifty Further.

 

TRADE	STOPLOSS	REASON
50% Sold @ 6235NF/6190NS on 3/1/14	EOD close above Day LEMA	Weekly channel Breakdown

Resell near Day LEMA, if Nifty finds support at 6190 - 50 DMA and rises.