Hello Readers / Visitors,We are updating weekly charts for Nifty in live markets after markets are in full panic mode & Sensex is down by 600 odd points @ 13400 lvls & Nifty down by 200 odd points @ 4025 lvls.
In charts we have indicated a trendline from where the last bounce came, today again we are at the same level & markets are halting at this levels. If we manage to close above this trendline this week then we can see some pull back in the markets & can again test 4200 - 4400 - 4600 lvls else we can see recent bottom of 3800.
Todays sell off was mainly due to Lehman brothers filing Bankruptcy Chapter 11, Huricane storm, weak global cues , weak sentiments & continous selling from Fii's.
Lets check out few days closing to judge the trend in markets.
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Good day
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Allies Financial Services
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