Nifty For tomorrow – Monday 5 July

The previous market session closed on a weak note after a positive opening, after the positive opening markets turned volatile and choppy with negative bias and slipped into the reds to end near the day’s low.
Markets are trading exactly in tune to the prediction made by us in our 25th June’s blog in which we predicted that the markets are likely to slip and may soon slip back to 5000 levels.

It closed below the 5 DMA and 20 DMA levels and RSI around 22, indicating that the market is looking weak ahead in the coming days and may soon slip back to 5000 levels.
5200 will again be decisive in confirming the trend reversal incase it gets broken on closing basis. We may see the markets to slip to 5000 levels soon if 5200 is broken.
Last month markets surged up to 5350 levels from 4900 mark right after our prediction of positive trend in our 4th June’s blog, as the markets slipped to 4700 from 5200 after our 3rd May’s blog.