A small rally is expected very recently near about the festive season , especially Deepawali.
But the rally will be for very short period where investors will get a chance to get out of the stocks , in which they have been stuck for long period of time.
Soon after this rally a severe fall is awaiting ahead , which will provide a wonderful opportunity for the traders & investors with cash in hand to invest there accumulated funds.
Technicals
In case of Nifty there is strong resistance at 4400 , 4600 and 4800 respectively. In order to cross 4400 levels it must close for atleast 4 trading session to confirm its stability. Though there may be an intra day achievements of targets but unless the stability is confirmed it is not going to cross next resistance levels.
Regarding Sensex a strong resistance at 15000 level is waiting ,so highest levels for sensex in near term is about 15000 levels and 16000, 17000 thereafter respectively.
Positive Clues To cause Rally
1. Finalization of Nuclear deal with India.
2. Sanction of 700 million dollars loan for U.S from world bank will improve liquidity and help the US govt to overcome the crisis problem in the economy for intermediate term.