Nifty is back to the 4600 levels. In the last few trading session 4600 levels is Nifty had really proved to be an important level. Nifty after breakdown below the 4600 tanked to the 4440 levels. But agained bounced back to close above 4600 levels. Midcap stocks continued to shine. Midcap stocks weref found locked in the upper circuit levels. In the last 3 days Nifty nearly rose 250 points and Sensex surged almost 800 points. Many brokers had come out with reports saying that the Nifty will tank to 3800 levels, but wrirter continiusly informed that the markets are in Bulls, and 4440 levels is a very good support. I had also stated that, till the time Nifty closes below the same for more that 2 consecutive day, Nifty will not go down further. And finally the Nifty bounced back from the 4440 levels and that to, sharply. If the Nifty closes above 4700 levels this time, then the recent high could be broken.Global cues too helped the Indian markets. Most of the Asian and Global Indices too surged almost 3-4%. US indices futures were too trading a percentage up. Volumes remained lackluster in the markets.
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