Weekly trading range for week ending 21 august 09

Weekly trading range for week ending 21 august 09

the broad weekly range for nifty may be 4455 on the lower side and 4620 on the higher side. A decisive breach of 4455 and inability to sustain above it may pull down nifty to retest 4360 levels. Us markets now having been entangled by adverse planetary effects may fall that may induce nifty to fall towards sub 4400 levels again. On the higher side a decisive cross over of 4620 & a close above it only may catapult nifty towards 4731 levels.

Weekly trading range for week ending 14 august 09

The broad weekly trading range for nse index during the week could be 4646 on the higher side and 4303 on the lower side. Even if nifty manages to cross 4606 during the the week, it would be considered a glorious effort by the injured bulls, similarly on the down side, if nifty breaches the critical level of 4380 & closes below it, then bulls may like to convert themselves into bears to join hands to take nifty all the way towards the magic level of 4222.

So critical levels nifty must cross and close above for early resumption of the bull run is 4606 and the critical levels bears must try their best to breach & close below to throw a grand bear party is the level of 4380, a close below which will certainly make the bulls to run for early cover.