July 8, 2008
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NIFTY closes at 4030. SENSEX closes at 13,525.99.

Bull operators trying to create a good chart pattern. But fundamental factors and international market trends don't go well. Yesterday's pattern would help NIFTY to test 4130 levels, when there is a positive momentum, in short term.

Investors, who are averse to risk avoid trading at least for 35 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

International crude prices or currencies would set a new trend in few trading days. They might set the next short to medium term trend. New trend would have an influence on the equity markets.