U-Turn is Possible on Nifty if 4800 Holds - AP

Yesterday's update still holds true. Watch the band between 4800-4858 for a U-turn on our markets tomorrow. If this happens, we can see a good rally in coming days.

One interesting observation again today. All intraday charts in Nifty spot show 4861.9 as the intraday low. However, data shows 4858 as low? Was someone desperate to get this low on the charts? What is the significance of this figure? How does it show up on the EOD (end-of-day) data if it did not show during trading hours? Food for thought!

A recap of what was said over the weekend:

I can see 2 scenarios, as mentioned on the chart.

• Nifty can take support either at 4910-4915, or finally at 4800-4810.
• If 4800 does not hold (quite unlikely), then we would head toward 4470 and 4200.
  

If 4910 holds, we might see a good bull run, which if 5200 is crossed, can go all the way up to 5925 (in few weeks, not days).