Traders will be keenly keeping an eye on 5700 level for Nifty and might go all out shorting the market once the levels are broken. Asian markets are trading in the red on Friday morning
Nifty - Watch out for 5700
We believe this level will be tested in the early morning trade. Any bounce back in Nifty above 5820 levels will create panic among short sellers. While bulk of the selling is done there is still some more pain. The indicators are turning bullish though fresh shorts were created in the system yesterday.
For investors it is better to wait and watch while traders should carefully watch the levels