The Nifty, which has not managed to maintain its earlier highs, is not willing to go higher and is on the verge of breaking down below 6,200 support level, technical analyst Sudarshan Sukhani, s2analytics.com said in an interview to CNBC-TV18.
“That is the zone below which we should have closed our short positions, but below 6,200 a close suggests we can go short because that would signify the resumption of that correction towards 6,000-5,900,” he added.
He further cautioned that the market is likely is remain choppy and said buying is best avoided in the current scenario. “Let the market show some strength and selling is going to be difficult, but if at all a trade will emerge today or tomorrow, it will be on the short side,” he added.
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