October 4, 2011
- NIFTY broke 4758 and took support @ 4728. Bulls need to sustain above 4822 levels for an up move to happen.
- Break below 4822 gave good down move. Next level for bears to break below is 4758
- Possible rounding Top formation in Nifty spot hourly charts.
- Both bullish and bearish possibilities exist at this point of time.
- Closing above 4910 will favor bulls.
- Break below 4822 may give further correction in favor of bears.