==>> Nifty closed below 4250

In my last few blogs i have been constantly informing the viewers of this blog, that the Nifty is facing stiff resistance at 4450 levels and the 4250 levels is very crucial support level. Till the time Nifty crosses above 4450 NO TEJI should be done. Yes i have also mentioned in my last blog that there are some chances that the Nifty may bounce back, but it was also told that the exact trend will be noticed after todays trading seesion. 4200 seems to be a good support level.

Nifty closed at 4221 below the support level of 4250. Sensex closed at 14076. In the Nifty chart we can clearly see that Nifty took good support on the Trendline (1), in the last few days, but today opened below the trendline and plunged to make a low of 4201. Sensex made a low of 14002. The RSI is also in the downward movement. Volumes were pathetic through the week. Markets seriously lacking buyers. Inflation expeceted 12.87%+. So we may see further downside in the Banking and the Real Estate Sector.