Yesterday, we saw markets falling like a dead pin. Bulls had a bad time yesterday. Nifty faced resistance at 4746 levels. Bulls tried to take Nifty above 4746 levels, but could not succeed. Markets saw an unexpected sell off in the markets. Yesterday markets which opened up strong. Nifty was all set to cross 4750 levels, but sell off lead the Index close below at 4625 levels
Nifty once again faced resistance at the trendline. Indices remained in the positive zone for most of the day. Shanghai markets fell down by almost 7 %. This triggered the selling in the Indian markets. Nifty which made a high of 4735.90 slipped down to 4600 levels, within minutes of the trades. Nifty on Monday closed below at 4625 levels. In the last 2 days Indian markets faced resistance at their trendline. Fear of some major correction in the Chinese markets too leads the bearish trend in the Indian markets.

Today Nifty closed at 4607.75, made a intraday high and low of 4650 & 4576 respectively. Markets remained lack luster for most of the day. Indices kept on changing their positions from –ve to +ve zone. Nifty has a good support at 4578 levels. Close below 4600 levels may take Nifty to 4510 levels. On Monday, a small inverted hammer pattern had been created in the Nifty chart. And Today A Doji pattern has been made, this indicates that we might some pull back tomorrow. The corrections in the Indian markets are mainly due to global cues. As soon as the Global markets review our markets will too surge. The close on Friday gave a strong indication that the markets will continue its northward journey, But on Monday & Tuesday, Shanghai markets corrected heavily so our markets too.
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