NiftyUpdates For 05Aug09------InderBhatia

The Indian market opened weak note and saw selling pressure at higher level and close with red zone.For coming session if nifty trade above 4700 levels it likely to test 4744-4790 levels .On the lower side trading below 4620 we will break the trend line and we can see healthy correction .On the daily chart Rsi had reach near resistances zone and near the breakdown point last sell of keep tight stop loss for longs.