Nifty on the daily charts has broken the supports on the fibo lines and is currently supported a by the trendline as shown in chart.Nifty has tried to consolidate today after hitting a new low. Till it holds the 5100 levels there chances of some recovery.Breach of the level of 5100 will take it to 5060-5040 level. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.
Buy above 5146 sl of 5126
targets 5164-5182(add positions breakout on the upside)
5200 -5218-5236-5254-5272.
Sell below 5110 sl of 5130
targets 5092-5074(add positions breakout on the downside)
5056-5038-5020-5002-4984.
Happy Trading !!!
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