16-7-2009 trading as expected took resistance at nifty 4305 and traded to down ward with a flat closing at 4231. Even the second half of trading rise was also weeded out.Global cues are not -ve but not strongly +ve. FII data in cash and futures was range bound , F&O data longs cleared in nifty futures, options writings is to bullish side and potentiality is 4300 + . Entire F & O build up is just concentrated at 4300 level but as we have 10 trading sessions further, the markets will swing from this point also minimum 200 -300 points either way but as per Friday's trading one can predict the swing is to which direction. As per GANN Fan chart nifty should cross 4240-4260 for bullishness which may lead to new highs in nifty 4700 +. Else ABRAKADABRA.