Nifty - negative weekly close

Global cues and markets are not at all in favour of stabilization of the financial markets with the US still hung over the 700 billion Dollar bailout. Many analysts feel that whether the bail out occurs or not - the US may be heading for further trouble.



The Nifty has given a negative weekly close and the daily charts are in fact also suggesting a further down move, initially to test the previous low of 3800 and a break below which one can expect the target of 3600 levels.

Happy (?!) trading
CA Rajiv D Khatlawala