Nifty

Nifty still in its downtrend - I'm now expecting targets of 3000 or lower.. which will take time to materialize.

Unfortunately, this fall has not indicated any good pull backs - any pull backs will be limited to 5200 / 5400 at most.

We may find some support at 4750 after which you can expect a brief bounce.. but any bounces should be used to exit any holdings in stocks.

Any bounce to 5200 should be shorted..