Nifty: Resistance 4680/4720/4745
Support 4640/4622/4577/4555
Nifty spent max time whole day in a narrow range of 4650-4680 Pts ... giving hard time to traders.
Past 2 months rally has been very furious & Bulls had a gal time. Now, we have some possibilities coming up.
1- Nifty if continues it rally, it may get exhausted near 4820 range & then may get back to 4555>4380>4040 zone & if last level is sustained, can show bounce back to fresh upmove.
2- "IF" Nifty cross & sustain 4820 for couple of sessions, we might head to 5XXX zone & then may see some rebound.
3- Nifty if closes below 3950,then this "RUN" may end & we may start the next part of downleg of this rally.
Sensex: Stiff Resistance @ 16256 .....
We have been non supportive of the fact that, we are in a "New" Bull Run. I still maintain my view that we are in a Bear "Rally".
Expect a flat/-ve opening in line with Asian Mkt.
Commodity Levels For 11/06/09: Click Here
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