16-6-2009 trading shows that the markets took support around 20 day ema line and bounced up. Nifty closed at 4518. This shows that markets are to go up side. But,this is wrong.

FII data more cash selling, more index future selling, more stocks futures selling means very big buildup in shorts. F & O nifty futures added 11.5 lakhs, probably shorts.This is most dangerous and the markets though go up due to any reasons one should not trade to long side. My view is to buy nifty 4600 put at every 50 points rise till Friday.

If markets won't fall before Friday we may see very big down fall in the next week and we may see negative closing for settlement.

FII pulse is sufficient for today's analysis. Enjoy down fall target may be nifty 4300-4100 and even 3900 for this month.

ABRAKADABRA.

Nifty levels : Go long nifty above 4540 and go short below 4480.
Pivot : 4496.