Short Overview of State of Nifty and Economy

Everything remains the same

— Reliance Lags Nifty

— Nifty Wintess 3 Week Top Formation in Weekly Charts

— Trin is above 1

— FII's Remain Netsellers

— Dollar Bottomed Out in short term along formation with bullish divergence in charts

— GANN Tussle between bullish and bearish lines from the GANN Charts

— GANN Supports near 4500 and near 4220-4240.

— Baltic Dry Index down more than 40% since June 2009

— Crude at criitcal resistance trading near 200 Week Moving Average along with bearish divergence in charts

— Montly Support near 4220( 5 EMA montly)

— Weekly Resistance near 4600( 5 EMA Weekly)

— Overall Breakout above 4600 and Breakdown below 4350.

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