The half-way time line seemed to put the brakes on NIFTY's rise after all. Wednesday saw a big drop on on the index although there was a fair bit of recovery. Question now is will we continue further down or will the index fight back? We will probably see a bit of a fightback initially. Short-term (say about 3-4 weeks), the outlook is bearish with the possibility of a drop to 4177 which happens to be the 180° level on the Square of Nine Grid.
Projected High: 4,543.6748 (30.1748 points)
Projected Low: 4,390.6245 (122.8755 points)
Bullish above 4,532
Bearish below 4,494
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