NIFTY VIEW for 22/01/10

i would suggest that new fresh short position should be created below 5040 with stop loss of 5075,
or if it opens higher, short position should be taken at 5125 with stop loss of 5150.
I believe, that chances of Nifty Future taking support around 4970 levels are high and hence if it takes support at this level, one can consider buying above 5000 with stop loss as the low made around 4970.