MAKE OR BREAK LEVEL

Poor GDP numbers and sharp decline in Rupee has turned the sentiment negative. Weak Asian markets are suggesting a Gap down. NS had made a low of 2677 and held previous low of 2661 whereas Sensex had broken its corresponding low of 8631 and went down to 8619 suggesting more downside. Market is trading in a range since November and is difficult to have positional call. Today's trading strategy should be to short around NF 2688 with S.L. of 2715 for target 2661-2655-2627. Boilinger band is suggesting daily support at NS 2685-2650 and weekly support at 2583-2517. Any upmove can be over NF 2712-2722. Watch Reliance....