NIFTY Technical analysis | Post Budget.

>> Sunday, July 12, 2009

After budgets we have witnessed a huge fall on the Indian Stock markets. The fundamentals didn't support after budget.

Now every one have reduced the rating for the markets. Every one is predicting the markets to further fall down.

Last week NIFTY closed at 4003.9 just managed to sustain the 4K level.
NIFTY TRIN at 1.631
NIFTY Range - Between 3820 to 4185

Current Spot - 4003.9
Support - 3910 and 3805
Resistance - 4102 and 4221
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Short term target : 4100.