Nifty's maximum target was 4525 at which many speculators initiated short. But NSE closed at 4528 on 21st August 2009. If Nifty gains and closes by 50 pts on Monday (24-aug-2009) then market can run up due to two reasons : (1) Short covering on the NSE (2) Due to a strong resistance being broker. In such a case, you may expect about 150 to 200 pts (5% upside) rally on the NSE. On the other hand if the temporary break out (above 4525) fails to sustain, again we will be trapped in a range. So keep your eyes on 4525.
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