REVERSAL DAY

Yesterday, Nifty gave a false break down but reversed immediately trapping the shorts. Now, the trading range is 4417-4484-4551. Swings to overcome is 4510 and 4560 . For today the pivot and major support is NF 4426 and has to trade over 4494 and preferably 4528 for strength and momentum to continue. Only major concern is FII's were still sellers in yesterday,s trade. With strong global cues, Nifty likely to open with gap up .... but will that sustain is to be seen....