Too Much Of Anything Is BadThe Nifty lost 51 points over the day to close at 5063. After aquiet start and range-bound trading till after mid-day yesterdaythe indices confirmed a fresh breakdown from a bearish reversalpattern that triggered a sharp decline in the last half-hour oftrading. This pattern has a minimum downside target of 4992 thatshould be done in the next few days. The pick-up in volumeactivity and momentum during the weakness yesterday supportsthe case for further downside. The daily MACD study hasdeveloped a weak set-up while the oscillators remain in bearmode and far away from the oversold zone. The close yesterdayhas been just above the crucial trendline support of 17000, whichwe presume is widely followed. A close below the same wouldonly increase selling pressure and take the index towards thenext supports of 16600/16000. A retracement of the recent rallyfrom 14700-17500 is desired before the next round of strength.Overall, with most world markets testing important resistancelevels and with the local set-up itself negative, we expect theNifty to pullback further and re-test the 4750-4900 zone.We Insight Technical provides stock market tips,brokers tips nse,free intra-day mcx commodities trading tips,free stock recommendations,hedge eqietystomaraws market, indian share recommendations,indian shares recommendations,indian stock markets insight,indian stock recommendations,intraday equity tips, intraday stock trading tips,intraday technical analysis,intraday trading nse,intraday trading tips,live market tips,indian equity market, nse future nifty intraday trading tips,nse tips intraday,sharemarkettipsking,stock intraday tips,Nifty options, nifty index options, nifty derivative options, derivative index options, nse nifty options, nifty market options, nifty stock,index options, derivative nifty index options, nifty share market, nse share market, indian nifty options, nse derivative options, nse derivative market, nifty options value, nifty instrument type, nifty options expiry date, derivative nifty option value, nifty trading options, stock market options, derivative market options, nifty index options in india, nse derivatives in india, derivative market in india, nse indiaFor More information Visit : http://www.insighttechnical.netEmail : contact@insighttechnical.netContact : +91 9822226867