In the last week Indian Indices closed below the previous week's close. Nifty closed marginally below 4000 levels at 3985. Nifty made a high of 4303 and a low of 3970. The low of Last week was 3799. Sensex closed at 13102 after making a low of 13054. In Nifty and Sensex 4000 & 13000 respectively, seems to be a good support. If we take a Fibonacci Theory in the Nifty, from the high of 5298 and the low of 4369, the -61.8% retracement levels comes at 3790, which is the low made on 16/7/09 and low of 3799 made on 18/9/08. Volumes were very less in the last week.
Monday, September 29, 2008
==>> Wait and watch.
In the last week Indian Indices closed below the previous week's close. Nifty closed marginally below 4000 levels at 3985. Nifty made a high of 4303 and a low of 3970. The low of Last week was 3799. Sensex closed at 13102 after making a low of 13054. In Nifty and Sensex 4000 & 13000 respectively, seems to be a good support. If we take a Fibonacci Theory in the Nifty, from the high of 5298 and the low of 4369, the -61.8% retracement levels comes at 3790, which is the low made on 16/7/09 and low of 3799 made on 18/9/08. Volumes were very less in the last week.
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