There is a minor Cycle coming in on the 12th May so we will see if we can hold above that point . The next important date is the 18th May so it would be advisable to wait for that date to come in and see if it sets up as a top or bottom - if you were to enter the Nifty on the 12th price has to stay above that point and if we drop below the 12th May that is the signal that we could be lower into the 18th May - if we hold above the 12th May trend could be up till the 18th May so ensure you use a time based stop and if we breach the 12th May bar it is an indication to sell out .
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