Weekly Nifty Outlook, June 4, 2012

Nifty should be broadly range bound in 4700 to 4800 for the next two week at least.

1. Both these levels are 200 and 300 weekly MA.
2. Trendline also supporting the view.

If Nifty could not close above 4750 this week then it may slide further 200 point till 4531 for a sharp bounce from double bottom.