Nifty Weekly Technical View

By | July 26, 2009

Hi All,

Nifty again moved up by 4% the commencing week. What lies ahead in the store

Big Boys RIL and ICICI came up with there respective results on Friday and Saturday.

RIL was a shocker on BOttom Line front down 13% and there GRM were poorer when compared to state rum company.

ICICI were again shocker on Top Line front but bottomline was good But if one scrutines the results the Profit was coming Treasury operation which are Intrest rate dependant.Once Intrest rate start rising they will come down.

Well i will try to post charts of RIL and ICICI if i can.

Coming back to NIfty

Immediate resistance which i am forseeing is 4580 Friday’s High if thats crossed mometum remianis intanct and we are thru 4640 4690

IF 4580 is not crossed a correction till 4535 4510 4439 4400 is quiet possible

As this being expiry week Short squeeze is quiet possible.

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