Short term trend down in NIFTY/SENSEX

Short term trend remains down. Hold shord in NIFTY with stop loss above 5060 and a target of 4865, 4830. Hold short in SENSEX with stop loss above 17010 and a target at 16350, 16260. The stop loss and target are valid for one day on 26th May 2008. Pharma stocks may witness nominal recovery on Monday, 26th May 2008.