Nifty has support @ 4800 and fibonacci 78.6% retracement level @ 4767.RSI is very much oversold and a dead cat bounce can come anytime.Bulls need to close above 4952 for further upmove.Till Nifty not closes above 4952 avoid Long positions.
A GLANCE AT OLDER POSTS
.Sunday 6th May 2012,- A close below 200sma is very bearish and if it closes below last support of 5020,who will save this market.............??.
.Sunday,8 april 2012-Island reversal gap in Nifty,Sell if u can............
.Thursday 23 february-Is honeymoon over for Nifty.
. Wednesday, 22 february 2012,- 5 gaps left on the downside.Each and every gap will be filled,no IF and BUT................
.Sunday,12th february 2012-why this hurry,hurry,hurry for Nifty to rise 900 points in just 25 trading days.
