Nifty is facing resistance at 200EMA, Fib Retracement of 38.2% from peak of 4600 to 2525 and achieved a short term target 138.2% of 2525 to 3150. If it cross above 3450 then it can up upto 3775 but in any correction it closes below 2960 then Oct Lows will not be intact. All Gann Line are also giving resistance at this level. Currently Dow Jones is also trying to maintain itself above 8075 approx which is a very crucial level for it because 62.8% rally of the downtrend is places here. If it fails to sustain this level then downtrend will effect all the major indexes of the World. Book your partial profit here.Most of the heavy weight stocks or fascinated stocks are at their highs so the profit booking may drag them down.
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