AS MENTIONED EARLIER NIFTY HAS A GOOD RESISTANCE LEVELS AT 5401 AND IF THIS IS NOT CROSSING THEN THE NIFTY CAN COME DOWN TO 4807.

NIFTY DID NOT CROSS THAT 5400 AND THE FALL WAS TILL 5071 (-330 POINTS). BUT LUCKILY IT TOOK A GOOD SUPPORT AT 5070 AND THE CLOSE WAS 5339.95.

01/02/2008 NIFTY CLOSE AT 5339.95 AFTER MAKING A LOW OF 5090.75. IT CLOSED IN THE +VE ZONE. VOLUMES HAVE ALSO INCREASED AS COMPARED TO LAST 4 DAYS. YESTERDAY THE DISCOUNT BETWEEN THE NIFTY FUTURE AND THE SPOT NIFTY WAS AROUND RS.40 BUT IN THE AFTERNOON THE NIFTY TURNED TO PREMIUM BUT THE CLOSE WAS AGAIN IN DISOUNT (RS.8).

ACCORDING TO ME THIS TIME THE NIFTY SHOULD CROSS 5400 LEVELS AND FURTHER RALLY WILL BE THERE TILL 5630 MINIMUM.