1. Nifty closing below 4450 indicates that bear market has started. One can be only optimistic for the market if the Nifty is able to close above 4600 and in that scenario the market can touch the level of 5000.
2. On the positive side if the 50-share index needs breaks 4450 than some relief can be seen in the market. Presently the state of market is that where one must book profit at every rise in the market. Bearishness in the market says that Nifty may touch 4000-4100 levels. Immediate support for Nifty exists at 4400 levels.
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Technical Analysis of Indian stock market NSE 50 Nifty Index
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