Nifty (05/10 to 10/10)

Last close in Nifty is a Dogi formation, which indicates the indecisiveness going forward. I repeatedly insist for a fall during the past few days. Since because a mild correction at this time may pave the way to make new high's in market. I am not against longers, but this type of one side move, happens again may lead to panic some were in future.

As for as the global cues are concerned, almost all the world market has corrected over 2%. Friday holiday has almost saved our market from a certain fall. But SGX Nifty traded to a low @ 4930, which is an important support going forward.

Nifty Future levels for this week:

4889 - 4924 - 4974 - 5011 - 5036 - 5069 - 5091 - 5127.

Until 4889 holds there is huge possibility for a bounce back and a march towards 5224 is not ruled out.