Wednesday, November 23, 2011
Looks like Nifty does not want to settle down still !!
Lower side the targets are 4530 zone at LMLH and correlates with the 1.236%R of the previous major Swing.
Lot of resistance levels uphill .Probability of Nifty attempting the lows is more due to the negative global cues. Crossing 4850 which is the recent minor swing high is important in the near term.Today's close also does not give any indication there is a slowdown of the fall.If there is a gap down again tommorrow , then 4720 becomes an important zone to cross after price finds support at lower levels.