As expected today Nifty
fails to close above the resistance line and closed below the mid line of Bollinger Band
being unable to breach its immediate previous high. It signifies that there is weakness in the NiFTY
and it may hit 8400 at any time in the next week. A panic button may be pressed close to the expiry which may lead NiFTY
to sub 8637 levels to hit 8500 and 8400.