Nifty future immediate resistance comes at 4718-4731 and sustenance above will target 4756.On failure to uphold 4718 nifty will be dragged to 4671-4632.
Take care on higher levels the market is not on the bullish side however positive divergences are seen on the oscillators but they still remain bearish, only a close above 4756 can decide further up moves towards 4840-4848 till then Sell on all rallies.
Throughout c.y.2011, Nifty has remained in the falling channel.
As I have been repeatedly telling, trend is your friend, it is better not to assume bottoms or predict the future moves of the Indexes, respect the trend as the market is much smarter than all of us.
Take care on higher levels the market is not on the bullish side however positive divergences are seen on the oscillators but they still remain bearish, only a close above 4756 can decide further up moves towards 4840-4848 till then Sell on all rallies.
As I have been repeatedly telling, trend is your friend, it is better not to assume bottoms or predict the future moves of the Indexes, respect the trend as the market is much smarter than all of us.
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