Week Ahead in Mkts: Pullback to 4,500 likely

MACRO TECHNICALS

Both 4,500 and 4,550 levels are significant resistances and it would take extraordinary turnaround in sentiment to push prices up further.

A massive sell off on Friday pulled the market back from record highs. The Nifty closed at 4,445.2 losing 2.46 per cent on a week-to-week basis. The Sensex was down 2.12 per cent at 15,234.57 points.

For the record, the Nifty and Sensex achieved all time highs on Tuesday at 4,647 and 15,868 respectively.

Volumes were massive on Friday