Nifty traded in the range that we had written last week (http://jerrytechnicals.blogspot.com/2009/12/nifty-weekly-outlook_13.html).
Chart Take
Chart support 4935 and 4820.
5165-5190 area in chart has become high resistance zone.
Fibonacci
The fibonacci support for next week is at 4935. Breaking and trading below 4935 with volumes
nifty may move the the extension levels of 4880, 4840, 4790.
5080 is fibonacci resistance area for next week. Above 5080, the extention zones are 5130, 5180, 5205.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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