For the week ended 17/10/2008 Nifty closed at 3074. Previous weeks close was at 3279. In the last week Nifty made a high of 3648 and faced resistance at the 200 moving average at 3659. In the weekly chart, Nifty is trading well below the over sold zone. Nifty has a support at 3000 levels. It's gonna be a pshycological levels, where we will definately see good short covering. Sensex has a support at 9500 levels. Korea govt agreed for a $130-b to rescue itself from the global recession.
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