What a nasty drop NIFTY suffered today! Just when it looked like NIFTY might continue further with its rally, it runs into stiff resistance at the 90 degree level and turns viciously down. That brings us to the next question - how much further down? My opinion (and it is just that!) is that NIFTY will want to go down to at least te 360 degree level (3866) though not necessarily in a single day.
Projected High: 4,322.75 (157.05 points)
Projected Low: 3,976.65 (189.05 points)
Bullish above: 4,192
Bearish below: 4,139
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