We need to breach above 5900 and stay there or else we shall fall very fast by about 900 points close to 5000-5100 levels.
Be cautious double top formation taking place at 5900 rally might just halt and we may fall really fast from here to 5050 levels be very cautious in this range itself, we have changed our over bullish stand because of some signaling indicators.
We need a close above 5900 soon for a sustained rally to 6221 but else we will fall really in the next month to 5100 levels.
Remember we are trading at 25 times on trailing basis and at 22x FY11 and 18x FY12.
Buy some puts on Nifty and hedge your positions.
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