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Nifty's 4650 Support Still Maintains

In this week Sensex down 5.3% and Nifty down 5.5%. BSE Midcap index was down 5.7%, BSE Smallcap index down 8.2% over the week. BSE Realty index was down 16%, BSE Metal index down 10%, BSE Bankex index down 8.5%, BSE Oil & Gas index down 6%, BSE Auto index down 2.3% and BSE FMCG index down 1%.Top Nifty gainers included Sterlite Industries, ICICI Bank and Reliance Capital while losers were RCom, Suzlon and Bharti Airtel.

As per technical if nifty maintain 4650 its a buy on decline market.Retailers who lost previous rally can take advantage of this.But if it broke nifty can go to 4300-4500 levels also.