Genie feels that Nifty has support at 4220 and resistance seen at 4450 and it may move to 4580-4600 if it closes above 4450. Nifty gained nearly 3% on Friday led by capital goods and banking stocks. Check the image it shows bullish signal. Nifty would have a minor resistance at 4495 if closes above 4444.Genie expects market to be positive this week having budget by the end of this week with a stop loss at 4150. Trading range for Nifty for the week - 4150 and 4520
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Genie has already mentioned that 4250 will be a good support for the bulls in short term, and final support at 4150. it made a low at 4155 and bounced back.
Check these links Market Outlook - I Week. Genie was bullish on Nifty in the Ist week.. It made a high of 4636 on 5/6/09 and went upto 4693 on 12/6/09.
And later the market was in the overbought range. click this Market Outlook III Week The market took a steep correction of 500+ pts making a low of 4143 on 23/06/09.
Predict Nifty and Mkt movement as a professional and stay inline with trend.