Update 1: Nifty has moved lower again, those who have extended their short positions from yesterday can exit 75% or full positions ( Nifty at 4960 )

Tips & Outlook
Nifty continued a downward movement in the morning trade today. Our last two recommendation was to be on short side on Nifty. We suggested sell on rise strategy that will make traders a handsome return in two days.

Today we expect a quiet day on Markets, for those who have already shorted Nifty, they can either hold positions or square off. New short positions only created once Nifty move upwards. So that, risk reward ratio is favorable. We maintain our sell on rise strategy on Nifty and short when Nifty rallies towards 5200.

Caution: There is only worry in above strategy is US markets, as we have seen that Dow Jones and S&P 500 showing strength and after a steep fall ( feared by Greek Election outcome and bail out deal at risk ) in early morning yesterday .US markets didn't sell off and recovered at the end of the day. If US markets are holding up gains for a year, then other markets gain strength and momentum and downfall may be reversed.

See our yesterday's Tip Here