It was a short covering rally following positive news from the Europe. Nifty gained all the previous week loss and close at 3.5 % up with bullish engulfing candle also as markets are overbought on hourly charts so in gap up opening profit booking in the range of 5245 - 5312 levels is possible shorting the market is not advice unless weakness from europe is seen in the 2nd half.
bought nifty 5135 intraday for tgt 5175
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