Last week market moved as per our expectation and we had advised our clients to exit at every levels above 4923. We had also given a downside target of 4637 and market took a pause at 4687.
This week we expect the pull back rally, which started from Saturday (06.12.2010), to continue and Nifty can scale to 4790 and 4865 in the early part of the week.
But reversal from these levels will emerge to our probable target of 4650 (which is 200 DMA) or 4612.
Despite the weakness, a close above 4928 will signal a higher Nifty.
