At the edge…..

The Nifty was at the verge of the collapse incase if it fails to add at least 70 points to trade above the 4397 level at the earliest, atleast by close Tuesday. The Nifty is technically in sell situation but the gravity was not so serious. The Nifty need to trade above 4350-60 level to mitigate the bear pressure and some buying coupled with short covering may emerge above 4400 as the expiry will close by Thursday, 4 trading sessions away. The Nifty shall not trade below the support level at 4280 to see the up move in future.

The strong counters are in a band and the weak counters are getting weaker as the Nifty movement is to Southwards. The markets are likely to gain strength to loose the bear grip when the Nifty crosses the 4500 level, the stocks that need to trade above their strong resistance levels; the SBI has to trade above 1540-50 level, the Relcap has to trade above 1420-25 level, the RCOM has to trade above 450 level, the DLF has to trade above 550-60 level, the momentum scrips like RNRL has to trade above 106-08 level, until then the markets are in bear grip.