Nifty opened gap up above 12100 and immediately captured 12161, being last week high. At the end of the day it pared 50% of the gains and closed at 12108, exactly at the place where it opened. In the process, the PEs below 12050 and CEs above 12150 have been eroded. I would rather call it an operator foul play as there is no technical term is there to describe such moves.
Range for Nifty today : 12080-12190. BN 31200-31600.
HIGH ALERT:
DO NOT SHORT THE MARKET.
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