Nifty is nearing the support level of 4700 and if trading is seen below 4700 its expected to test 4200 soon and may also move to test 3800 level,, looking at Rupee which is expected to move towards 55 to 56$ in near term, i am looking nifty to test 2800 to 2500 level which will be double bottom in market where we have already seen double top at 6400 area.. there is the fundamental no good new expected in neat 3 to 4 quarters and this will be the negative move to continue ... worst condition is going to come in East where Euro zone will collapse and the tension between the Arabs and English will tensed up with the rise in Petrol price which will move and trade towards 150$ to 180$ soon. till the time no other alternative source of energy is pushed for heavy demand time will decide the further direction.
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