#148 Nifty Update :Nifty reacted to Inflation rather than IIP

Two sets of data were declared today IIP, which was better than estimates and Inflation, which was slightly higher than previous month. Nifty was trading at new high 5952 when IIP was announced but than plunged when combined inflation was announced.  Though its simply profit booking on nifty bt investors can take this as negative reaction of traders to data. RBI policy is to be announced soon and investors are wagy. Now we have seen some bearish pattern formed today..tomorrow we need confirmation for strategy tomorrow is go long above 5925 n short below 5900
.thts STRICTLY intraday. While positional traders add long above 5954. So there is no short opportunity on chart as of now for positional trade…so my range for tomorrow is 5900-5925

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