20-8-2009 trading shows that markets are preparing to the settlement closure. Nifty in this week traded up and down alternatively and closed at 4453. As seen from FII trading they sold in cash, more buying in index and stock futures. F&O data seen in shifting of nifty futures to next month, option writing shows range is 4500-4400-4300 only. Global cues are US +ve, Asian markets are -ve as of now. SGX nifty is flat.

Over all view: All pressures in international markets were fully absorbed by our operators till now with out breaking nifty 4350. May be the international pressures are over and we are nearing to settlement. Hence, markets are converging to a point that may be 4400-4500. As seen from the weekly chart if we see one lower weekly closing ie., below 4353.45 today we may see a big correction in further weeks. As of today it is only to intra day.