BEGINNING OF DOWN TREND...

Nifty is trying to break its low but with today's dip hourly charts will go in oversold state. Also as Asian markets are recovering after the gap down, we too can follow the trend. Buy around NF 2609 or below with S.L. 2572 for target 2624- 2648-2655 for a bounce or short at higher levels with S.L.2680. Unless NF 2672-2679 is not crossed on upside, we are still in bearish mode. Pivot for the day is NF 2648. Watch NS 2570-2502 in coming days as break of that will clearly define the bear trend.