Nifty closes above 4700 level

Today (3-8-09) Nifty moved from 4668 to 4618 up to 12.33 and as European markets turned positive Nifty also took a U turn and moved upwards and up to 15.00 stayed near last high of 4693. After a few minutes, around 15.08 Nifty broke 4693/4700 levels. That prompted short covering by bears which lifted Nifty to 4724 levels till 15.30 and closing at 4711 with a gain of 75 points. Next levels are 4759 (Gandharam centre point) and 4859 (upper boarder of Gandharam). As Surya level is at 4824 tomorrow's up move may be limited to 4825-4860 area.