Nifty opened gap down by 6
points, could not reach our modest target of 12161 and ended up below 12100 at
12082.80. Whether it is a expiry move or
it is an indication of further weakness to come, only Monday opening gives us
the answer.
So far Nifty has broken 11929
twice in this month, once on Budget day to touch 11614 and during last week to
reach 11908. Monday opening is crucial.
Nifty range for the week is 11775-12137. If 11929.10/908 is broken, we may happen to see 11778.
Bank Nifty too likely to visit 30390. Range for the week 30390-31012.
37 scrips are melting down. 4 scrips are reversing from the bottom. 9 scrips are sideways.
Good Luck!
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