Main nifty/4647 and nifty fut/4653

Main nifty/4647 and nifty fut/4653: Market looks weak as per the fresh short seen in nifty on friday.The trend of nifty is already down with lower highs and lower lows.AS per fibbonacchi levels below 4628 nifty is set to touch its last intermedaite low of 4468.nifty’s closing on friday is well below its weekly trend level of 4741.In most of the front line stocks no significant long or short position is being built therefore market may remain rangebound.Fiis sold 1506 cr on friday.Among global markets Shanghai is the weekest as per the fall from the top(44% fall) while strange but true Dow is the strongest with just 12% fall. We have fallen 27% from the top so fundamentally there is big upside for our market but its too difficult to time the market.For monday, future nifty/4653 S at 4607 then 4492 then 4380. R at 4700 & 4746 then 4900.WAtch out for foreign markets on monday morning for more cues.