NIFTY Weekly technical analysis.

>> Sunday, June 21, 2009

A bad week indeed for the Indian Stock markets characterized by high volatility and bad global sentiments.

Last week we saw NIFTY bearish mode.
Last week NIFTY closed at 4586 and this week at 4274.05 a negative movement.
FII's participation was moderate.
NIFTY TRIN at 0.457
NIFTY Range - Between 4185 to 4421

Current Spot - 4274
Support - 4190 and 4105
Resistance - 4359 and 4480
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Targets on the upside for short term - 4620 and 4670

Chart :

NIFTY Auto generated technicals.