RECAP
We all saw the brutual selling that happened last week once nifty broke 4920.
Last week's link: http://jerrytechnicals.blogspot.com/2010/01/weekly-outlook-for-indian-stock-market_24.html
NIFTY
4829 will act as strong support in the coming days for nifty future.
If nifty is able to cross and trade above 4945 next week, it will move to 5015, 5045, 5145 fibonacci extensions.
4800 will be key level to watch on the downside for coming week.
Breaking and trading below 4800, nifty future will straight away fall to 4735 and 4690.
Breaking and trading below 4650 will open up further downsides till 4531 and 4451.
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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