Nifty still remains on weaker side: Mitesh Thacker, www.miteshthacker.com

Mitesh Thacker, www.miteshthacker.com in an interview with ET Now talks about Nifty.

ET Now: What is your call on major indices for the day both the Sensex and the Nifty?

Mitesh Thacker: There are couple of observations. I have talked about the fact that 5250-5230 should be a good support area. Also is the fact that the overall put call ratio has now come below warnings at about 0.9 for the June series which market actually might hold onto this level for the next few days, even bounce back from here. It would go back to 5320 which has been the intraday high for last 2 days and probably beyond that to 5350 but the overall structure still remains on the weaker side. For the next few days, we might see a bounce back but in case I am going wrong on the index beside only after the market opens today and see how the advance decline and the other points pan out, in case we are doing that, 5230-5235 should be the stop loss and it should be done with a strict stop loss because the overall structure, we are still not very comfortable. The stock structure is still looking very weak.