Nifty Weekly View

By | July 11, 2009

Hi All

As told in previous Weekly analysis That and Head and should is making and we broke the Trend line @4150

So Now we have closed a weekly down of 10% on nifty.

Well as per me the downtrend will gonna continue with minor bounces till 4040 4075 4150.

An important observation

4693-4146=547 POints fall

4480-547=3933

4480 High on Budget Day

SO 3933 becomes an important point to be watched out.

Nifty Levels to watch out for

4242 on upside – 3739 on downside should be range for coming week

Weekly Breakout points:

4142 on upside if broken can see 4242 and 3865 on downside if broken 3739.

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