Nifty is at critical juncture and bears closed the nifty below 5880 level. Next week Union budget is on the way and 2013-14 budget will be bad for economy and a Nightmare for bulls globally and it will create the lots of volatility in the market. Nifty weekly chart suggesting a good sell signal. Daily Chart is getting little oversold. Nifty 6000 call highest open interest suggesting upper boundary for near term. Nifty daily chart and weekly chart giving strong trend line resistance at 5921. Traders should assume this resistance as stop loss for short trend. For fresh long entry should done only above 5921 level. Due to high volatility Intra day trading is advisable till budget. Head & Shoulder pattern has formed on daily chart If price slip below 5800 fast fall can be happen till 5630 level. There could be lots of volatile session can be seen in coming week so trade systematically and objectively. 5886 level will play important resistance for nifty for coming week cross then 5920 will act as a good line of control level in the market. Use rise for sell.
