Trading Idea: Should you short Nifty now ?

Markets traded at highest point of the day with Nifty gaining above 5,900 on back of significant buying in index-heavyweights.

So should you be using this opportunity to short markets before pessimism sinks in?

Check out the trading strategies with Mudit Goyal, technical analyst, SMC Global.

SmartInvestor : Markets have edged higher amid a volatile trading session. What are the levels to be watched out for on Nifty for the remaining part of the week?

Mudit Goyal : Short term and medium term is still positive for near term till nifty manages to trade above 5700 mark. For coming days, range bound and volatile sessions can be witness. Near term resistance is seen around 6050-6100 and Support is seen around 5800-5780.

SmartInvestor : Would it be wise to short if Nifty breaches 5,900 levels in today's session?

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