Tit For TatThe Nifty gained 147 points over the day to close at 4710. A bigday of rallying at the markets yesterday that saw the indicesretrace the entire loss of Tuesday. The fact that the indicesopened at the day’s low and closed at the day’s high is veryencouraging as it builds a case for a bottom. Our mentioned “lasthope” support of 15300 has been respected as the indexreversed exactly from the same only to get close to the updatedtrading resistance of 16000. The candlestick pattern formed isbullish while the technical oscillators remain within the oversoldzone. Immediate resistance for the Nifty seen at 4730 that couldbe tested before some cool-off is seen. We are closelymonitoring the development of a bullish reversal pattern on thehourly chart, which once confirmed would tell us if the rally is apullback or a genuine reversal. We shall have a confirmation onthe same by Friday. With the US markets close to their supportlevels, we do not expect incremental weakness and hence itaugurs well for emerging markets including India. Overall, thebulls are likely to be tested around the 16000/4730 mark.Note: More intra-day opportunities will be providedlive during the market hoursFor More information Visit : http://www.insighttechnical.netEmail : contact@insighttechnical.netContact : +91 982222686We Insight Technical Provides indian share market tips,nifty option trading,nifty option,intaday option trading,nifty option,nse market tips,nse/bse stock tips,trading recommendations of indian stocks,indian share market,stock market recommendations by sms,pre-market analysis companyWe Insight Technical provides hot shares in bse,sharemarketindia,hot stocks bse,nse hot stocks,preferred stock recommendations,hot shares on bse,intraday stock recommendations,technicals of share market,mcxtip,indian stock advisory,nifty stock recomendations,stock trading franchise india,stock market trend history,bse option calculator,hot stocks in indian share market,hot tips bse market free sms,indianstockcharts,hot indian stocks,hot intraday tips nse,hot intraday tips nse bse,indian stock recommendation for intraday,nifty stock recommendations,technical share market,technicals of indian stocks,gold intraday tips,mcx broker tips,hot stock in nse,hot stocks in bse,indian technicals,intraday option trading tips,nri intraday trading,nse intraday recommendations,option calculator nse,share market recommendations,stock market consultant,ncdex tips