Interview with Nifty on October 4, 2011

Nifty is again taking very hard interview to qualify traders. Those who will stick to basics will get through it and others will simply curse their fate.
Today US market again closed in red with more than 2.5 % down, so what we can expect.

1. Our Nifty will also shades some vital points to favor bears
2. I believe it will give a sharp move to close at around 4800 because of following reasons mentioned in following charts
3. Today strategy should be to go long at around 4720 to 4750 band and if nifty did not reach near this target before Europe opening then one should wait for further clue
4. Today target in down 4800, 4780, 4765, 4720
5. Today target in up side " I do not believe it will close up today"