This time, for a change, I am presenting a different view of the price action. After dropping to a low of 4675, on 8 Feb 2010, NIFTY is undergoing a distribution pattern. In the beginning of next week, NIFTY is likely to go soft, and may touch the point "1'. However, the start of the week with a gap down move cannot be ruled out .Thereafter it is likely to drop to near 4550.A strong bounce back can be expected from that point and might face a resistance of near 5200. The sharp drop and the sharp bounce back together will make it an extremely volatile week.
