Today:, Nifty opened flat too positively after showing very volatility in the market with effect of CRR POLICY last week. It created top out situation and came in correction situation in the market. At the end it closed negatively. Technically below 4910, can see more downside in the market. We can see the next target at around 4350. Now consider resistance at 4720-4780-4830. Downside support is 4628-4538.
Weekly: As mentioned last week, Nifty broke 4850, tested previous low of 4639, and made a low of 4628. Overall trend is down, and every rise is selling opportunity, as a lower target of 4185-3739 is expected in coming days. In this week, consider resistance at 4810-4850; downside support at 4600; below that, another round of panic on the card.
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