==>> Nifty closed at 4800.4

It is not the right time to comment on the end of the downtrend. As the Nifty is still in the Lower top and Lower Bottom pattern and to break that formation the Nifty close should be above 5400. The shortest moving average is trying to cut the longest moving average in my chart. That can be a sign of worry. But if it takes support from there then the rally could be up to 4950-5000.

Nifty support is at 4630-4640 & 4450.

Resistance at 4800-4950-5000.

In the morning I have clearly mentioned that we might see some pull back in out markets, as Nifty took support at 4630. It is a long-term trend line support from 2006 onwards. You can clearly see in the chart that today Nifty took support at the same trend line and the close is well above the trend line. Nifty still had a good resistance at 4800, But closed at 4800.40.

Yesterday Sensex made a double Bottom at 15300 but the Nifty is still very far from its previous low.

In the morning I have posted one massage about the increase in the circuit levels of the “B” group shares. Due to this action many “B” group shares which were locked at the lower 5% circuit and now locked at 10 % lower circuit. Retail investors who are trapped in these scripts are loosing money much faster. On the other hand some scripts were out of the lower circuits also. In the hope of earning fast I think that all the markets operator will be back in action. But if the downtrend continues the retail clients will be screwed up big time. I really could not find a good reason for this step, at this juncture. I hope the operators are back into action.