NIFTY TIPS OF THE DAY

Nifty is trading in very narrow range of 4830 to 4890. Technically nifty looking week and again today made new low in market. We are still expecting that it could make the downside breakout from here and we could expect the level of 4650 in Nifty. In the range bound movement sell on highs strategy is looking appropriate. Traders who are having the long position in it should watch out the level of 4700, if it close below this then they should quit their long position & should focus on short side in market