Nifty again closes above 4500

In consistence with global cues, Nifty today (23-7-09)opened with a gain of 77 points at 4477 and moved in the range 4502-4455, mostly in the Chatusruti Rishabham central (4464) area from 12.00 to 14.15. Shortly after 14.15 Nifty surged upward and reached a high of 4532 by 15.00. Nifty closed today at 4524 with a gain of 125 points. Nifty futures yesterday closing at a premium of 4 points even after the fall of 70 points and the steady position of Soma levels above 4550 for the last three days could have been taken as an indication of strength, which Nandi ignored totally. As tomorrow's Soma-Surya levels have increased by 100 points, despite Friday, it may be a strong up tomorrow. But, the observations based on last trading days figures will be negated on a different movement in Asian markets particularly Singapore Nifty, as of today.