The Nifty closed last week at just the tipping point. From here the direction of trend will depend on the direction in which high volumes will be traded in a sustained way. Below 4820 levels the markets are likely to test the earlier low of 4720 and if 4720 is breached then it can go down to 4610 and 4405 in the wake of fresh supply. However, above 4910 it can go up to 5035. Staggered bottom fishing is recommended in key index stocks for a medium term.
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