Nifty: Resistance 4440/4542/4600/4640/4660
Support 4240/4111/4080
What we saw was history in Indian Stock Market. Indian market was haulted for whole day for first time in history due to buyers freeze. Now, what I personally feel is, market is over reacting to the results & never imagined such thing to happen. All bears got squeezed from the system. Another 5-12% rally not ruled out now, as many people feels left out in this massive rally & will try to cover up by buying which they couldn't do earlier. We have been advising to be light in short/longs & be hedged.... I hope all heeded, especially shorters.
Expect a Gap Up of 3-4% with 4640 as important resistance now on upside.
Commodity Levels For 19/05/09: Click Here
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