In continuation of our index analysis we have put up this time NIFTY chart. This index cold not sustain the first fibonassi support around 4300 belying expectations of many analysts and went down a tad below 4100 before bouncing back. However this bounce is not likely to sustain and should be used to lighten the portfolio. The levels for investment are 1st 4000 and 2nd 3650. The support at 4000 is very strong both technically as well as psychologically and it remains to be seen if the bears bother about it for long or not. Both these levels are excellent opportunities for long term investments.
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