Nifty Coming days view

As Per NIFTY weekly chart.

Nifty yesterday has taken a medium term support Shown in graph. Today it was up around 50 points.This is the crucial level for nifty and break below this will take it to 4550,4300.

Down side remain high as the MACD signal line has negative cross over, and MACD histogram remains in negative territory from Jan end. Other Indicator RSI is at 46.28,which is near to what we have seen in Mar 2009 when 2009 bull run has started..

For Coming week, i think nifty may go up to the level of 4885,4924.
The strength lies above 4800.

Medium term view bearish.

Hi SDALAL,

Any idea what is the NIFTY range on coming monday. I have bought Options PE 4600 with the view that market will go down, but today NIFTY CMP is 4757

Please advice


Regards,
K7

Monday nifty spot range.

Above 4758- it can go to 4778-4788.
if trades above this level,will see 4826.
On manday i see upside and may be on tuesday till noon.

but over all the market is negative and we are advising to exit at every rise.
So for PUT you can hold.
If heavy run up comes,Max the nifty can touch is 4974.

Close Below 4680-4665, will take it 4550 and lower.

All world indices are on support line,so some upmove see for couple of days.